Rasmala winds up private equity fund

by Andrew White Monday, 11 June 2007

Rasmala Investments has wound up its Rasmala Private Equity Fund 1, a fund launched in the year 2000 with the objective of investing in the financial services sector in the GCC.

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"We returned to investors over three times their capital in just over six years, equating to an annual return of 22% per annum," claimed Ali al Shihabi, founder and CEO of Rasmala Investments.
Rasmala Investments, a Dubai-based Investment Bank with subsidiaries in Riyadh and London, currently manages eight funds in regional and global markets. Its activities include investment banking, private equity, asset management and brokerage.

"This achievement, over a prolonged period of tremendous volatility in regional markets, and in an asset class that had hardly existed in this region before the launch of this fund, is something Rasmala is justifiably proud of," said al Shihabi.

"The GCC economies are experiencing tremendous growth, the markets are continuing to open up to foreign investment and regulatory reform is progressing," he continued. "This environment will provide Rasmala with the opportunity to play an ever-increasing role in private equity by restructuring businesses to maximise shareholder value or helping companies to build scale to withstand upcoming regional and global competitors."

Al Shihabi added that RI planned to launch two sector-focused private equity funds by year end.



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