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Honk Kong fund buys Jordan Dubai Capital

Hong Kong-based HPF private investment fund has wholly acquired Jordan Dubai Capital in a deal worth $130m, Reuters has reported. The deal will enable HPF, set up in January, to expand its portfolio in the region, where it was targeting investment areas such as infrastructure and real estate development, said Mahesh Harilela, a majority holder in HPF and the shareholders' representative. The deal, which will retain the Amman-based firm's management, did not require Jordanian regulatory approval, he added. Jordan Dubai Capital, set up in 2005 as a subsidiary of investment giant Dubai Capital, has since the global financial crisis of 2008 divested most of what it once said was a $1.5bn portfolio that it had acquired in energy and property assets.