Al Mal Capital, a Dubai-based provider of investment banking, brokerage and asset management services, has launched its private equity programme with the introduction of both the Al Mal Ca
Al Mal Capital, a Dubai-based provider of investment banking, brokerage and asset management services, has launched its private equity programme with the introduction of both the Al Mal Capital Partners Fund and the Shariah-compliant Al Fares Private Equity Fund.
The two funds will operate side by side, searching out opportunities in the Middle East and North Africa region, and provide investors access to stakes in founder shares, pre-IPO and late stage investments in prominent companies preparing for public market entry.
Al Mal is looking to raise committed capital of AED350m (USD95.3m) for the two funds over an initial subscription period from January until late February. Both funds will target a return in excess of 20 per cent per annum over a five-year term.
Al Mal Capital will be responsible for due diligence, investment selection, ongoing management of the portfolio assets and overall portfolio risk management as fund manager, a role undertaken by its in-house private equity team.
An investment advisory committee comprised of senior Al Mal Capital executives will provide guidance to the private equity programme. The firm plans to invest AED35m of its own capital alongside third-party investors.
‘We have an experienced private equity management team that have been identifying, qualifying and investing in private equity opportunities for many years, through market conditions of all types,’ says Al Mal Capital executive chairman Naser Nabulsi.
‘Teamed with an investment advisory committee that channels our management expertise, and our founder base of leading institutions and prominent business families, we have unrivalled local and regional access and resources to call on.’
The firm’s managing director for asset management, Blair Look, adds: ‘We feel investors will appreciate our value proposition: Al Mal Capital and our team will unearth and provide access to attractive investment ideas, and work to develop a clear exit for the portfolio of investments. We have extensive experience in direct private equity investing and in the alternative investment space that we plan to put to work in the programme.
‘Our managed funds and direct investments in public and private equity have shown tremendous results in 2006 and 2007, and we expect this success to continue in this new range of offerings.’
