Istithmar World named Best Private Equity House by Banker Middle East

The award was presented at the Banker Middle East Awards 2008, held at the Emirates Towers hotel in Dubai on June 17, 2008.

As one of the most respected and widely read financial publications in the region, Banker Middle East has been organising the Banker Middle East Industry Awards for eight years, providing the benchmark for successful institutions in the MENA region.

Istithmar World was nominated by a panel comprised of international industry specialists and then voted as the winner in its category in a competitive process including prominent private equity firms in the region.

Adel Al Shirawi, Vice Chairman of Istithmar World, who received the award on behalf of the firm, said: "The Banker Middle East Awards have been recognising excellence across a range of banking and finance verticals for eight years and is certainly the most valued industry benchmark for the region. Winning this award for the second consecutive year is a testimony to the pioneering role of Istithmar World in the private equity sector and its significant growth and expanding global presence over the last few years. I am especially delighted to receive this award for Istithmar World as it represents the opinion of thousands of industry experts and voters from across the world.

"Istithmar World's contribution to the private equity industry over the years has been critical to the growth and development of the region. We are well poised to continue on the high-growth path by deploying funds across international markets and investing in truly exceptional opportunities," he said.

David Jackson, CEO of Istithmar World Capital, said: "This accolade by Banker Middle East is recognition of the growing innovation and sophistication of the private equity industry in the Middle East, led by Istithmar World. Private equity represents one of the most exciting areas of growth for leading financial and investment firms around the world. Winning this award for the second year running well and truly establishes Istithmar World as the principal performer in its class, in the region."

He added: "Dubai is now one of the world's fastest growing economies and one of the region's top financial hubs. As a private equity group investing globally in a diverse range of sectors, Istithmar World is well positioned to capitalise on the opportunities created by Dubai's growing presence in world markets."

More than 70 financial institutions were nominated for the Banker Middle East Awards 2008 by leading regional financial experts. The nominees were then announced to readers of Banker Middle East, who cast their votes to decide the winners. The event was attended by more than 500 senior bankers and is a highlight of the regional banking and finance industry's calendar.