Alternative asset manager The Carlyle Group has become the first firm to establish an investment structure under Dubai’s new Collective Investment Law, which was enacted in July 2010.
Law firm Taylor Wessing advised Carlyle on the establishment of Carlyle MENA Investment Advisors Limited, which will partner with the firm’s existing regional fund, Carlyle MENA Partners.
Under this new structure, Carlyle’s MENA investment team will be able to establish and manage investment funds domiciled in the Dubai International Financial Centre (DIFC) as well as in other recognised jurisdictions.
“The new Collective Investment Law is a testament to the DIFC being a domicile of choice for private equity firms, and we are pleased to be the first such firm to benefit from the law," says Walid Musallam, Managing Director and Head of Carlyle’s MENA team. "The DIFC’s stature and importance as a financial hub is growing. We see great investment promise throughout the MENA region and look forward to building upon the many valued relationships we have developed.”
Taylor Wessing’s team was led by partner Hasan Rizvi and included client partner Osama Hassan and associate Adela Solomon, all based in Dubai.
