Al Mal Capital seeks up to $100m for fund

28 May 2008
Al Mal Capital, the UAE investment company, is seeking up to $100m for a new Middle East & North Africa (MENA) equity fund, according to executives at the firm.

Al Mal's initial target for the fund is $10m, says Blair Look, managing director for asset management.

The open-ended fund will be registered in Bahrain. It will be denominated in dollars and will offer weekly subscription and redemption. The initial minimum subscription will be $250,000.

The fund’s manager, Tariq Qaqish, says the fund’s investment strategy will be based on fundamental research into 30-40 major quoted firms.

The MENA equity fund is Al Mal's sixth fund. It also plans to launch a real estate fund with a target of $250m and an income fund before the end of 2008.

Al Mal Capital was founded at the end of 2005. Its executive chairman is Naser Nabulsi.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications