Rasmala Investments has appointed Ibrahim Saad as partner and head of private equity. In his new capacity, Saad will help the firm, based in Dubai, United Arab Emirates, launch its second p.e. fund this year.

Saad replaces former private equity chief Tamer Bazzari, who recently took up the post of head of principal investments, responsible for deploying Rasmala's capital in strategic and financial investments.

Saad joins Rasmala from AB Capital, the investment banking subsidiary of Arab Bank, where he served as chief executive. Prior to that, he established SHUAA Partners, the private equity arm of SHUAA Capital.

Ali al Shihabi, founder and CEO of Rasmala, said, "We are very pleased to have Mr. Saad, a highly regarded and experienced private equity executive, head our private equity team. We are confident that he will help build on Rasmala's regional success to date."