Dubai International Capital (DIC) has made its first investment in Japan, buying a “substantial” stake in Sony Corporation.
The private equity arm of Dubai Holding private equity arm confirmed the purchase in a statement.
“While the restructuring process at Sony is well advanced, the recent successful listing of Sony Financial Holdings is evidence of the management’s ongoing strategy of focusing on capital efficiency and cash generation,” said DIC chief executive officer Sameer al-Ansari.
The investment was made through DIC's Global Strategic Equities Fund.
The fund targets investments in large, publicly listed companies. DIC's public equity investments include a 3 per cent stake in Indian bank ICICI.
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