Thursday, 23 March 2017
Last updated 16 hours ago
Mar 6 2008 | 12:21pm ET
Global Investment House and Dubai Islamic Bank, in collaboration with Millennium Capital, are planning to launch the Global DIB Millennium Islamic Buyout Fund, which has a target of US$500 million.
The fund will focus on investing in Islamic companies in the Middle East, North Africa, Turkey and South Asia, although it may also invest opportunistically in companies located in China, India and Pakistan. Global Investment will serve as the fund’s investment manager with Millennium Capital co-managing the fund. The Sharia Board for the fund will be headed by Hussain Hamed Hassan, chairman of the Sharia Board of Dubai Islamic Bank.
“The Fund is well suited for sophisticated investors from the region who have a strong preference for Islamic products but do not come by private equity products very often,” said Omar Masrur, head of private equity of Millennium Capital, the investment banking arm of DIB.