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New Islamic buyout fund unveiled
- United Arab Emirates: Wednesday, March 05 - 2008 at 07:10
Global Investment House and Dubai Islamic Bank, in collaboration with Millennium Capital, have signed an agreement to launch the Global DIB Millennium Islamic Buyout Fund, a private equity fund targeting aggregate commitments of $500m. The fund will invest in buyouts of Sharia-compliant companies in parallel with the Global Buyout Fund, which had its initial closing in November 2007 upon receiving aggregate commitments of $550m and has already invested or committed more than a third of it in three acquisitions. The Global Buyout Fund focuses on buyouts in the Middle East and North Africa, Turkey and South Asia.
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Jeff Florian, Senior ReporterWednesday, March 05 - 2008 at 07:10 UAE local time (GMT+4)
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