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Fri 6 Mar 2015 02:09 AM

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Dubai hedge fund firm adds top UAE tycoon to board

Dalma Capital Management Limited announces appointment of Mishal Kanoo as licensed director

Dubai hedge fund firm adds top UAE tycoon to board

Dalma Capital Management Limited, a Dubai-based hedge fund manager, has announced that high profile business tycoon Mishal Kanoo has been appointed to its board as a licensed director.

Mishal Kanoo is also the deputy chairman of The Kanoo Group, one of the largest family owned groups in the Middle East that has interests including hedge funds, financial services, shipping, travel, machinery, logistics, oil & gas, ports, power, and chemicals.

Dalma, based in the Dubai International Financial Centre, said in a statement that Kanoo has a reputation as a "futurist and strategist with a strong track record of forecasting economic developments in and around the Middle East".

Howard Leedham MBE, senior executive officer of Dalma Capital Management, said: "Our entire team at Dalma are delighted to welcome Mishal Kanoo to our board. I have long considered Mishal to be one of the best forward thinkers in the region and his wisdom as an economist and a businessman will enhance the depth and expertise of our Dalma board."

Dalma manages a globally diversified hedge fund from its DIFC offices and is the only hedge fund company in the UAE that has agreed to charitably donate a percentage of its fees to the Emirates Foundation as part of its Corporate Social Responsibility programme.

Kanoo added: "I had for sometime been observing the progress of Dalma Capital Management and have grown to consider them as one of the next generation of hedge fund managers, so I was delighted to be invited to their board. I look forward to being a director of this dynamic company and to being a part of its promising future."

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