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DIC hires Merrill man to boost private equity team

Dubai International Capital, the $13bn buyout company, has hired former Merrill Lynch executive Eric Kump as its new managing director of private equity.

The firm has also appointed Marc Hollander, the former managing director of Investor AB’s private equity unit, as its new finance director of private equity.
The Financial Times earlier reported that DIC has cut one tenth of its staff as it reduces its exposure to global equities and boosts its presence in Asian markets.

DIC, which owns shares in Sony Corp, and airplane manufacturer EADS, has also been linked with the possible purchase of Liverpool FC. DIC is a unit of Dubai Holding, which belongs to the government of Dubai.

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