Mid-East Firms Launch Shariah Buyout Fund

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.


In Depth

Steinbrugge: Will Hedge Funds Help or Hurt During the Next Market Correction?

Sep 7 2016 | 11:55pm ET

Most investors have become accustomed to quick rebounds when markets correct, but...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...