By Talal Malik
Emivest Capital to focus on fund management and private equity; plans to launch hedge funds.
Dubai-based investment company Emirates Investment and Development Company PSC (Emivest) has established a new investment arm, Emivest Capital, to create new investments and to provide corporate and advisory services.
Emivest, which is owned by Dubai’s government, said the new firm will focus on fund management, private equity, asset management and investment in pre-initial public offerings (IPOs) and IPOs in local and international markets across various sectors.
"Emivest believes in the value of multiple perspectives on industry, geography, size and human resource levels and we strive to consolidate these to provide maximum benefit to our clients," said Buti Saeed Al Ghandi, chairman of Emivest, at the launch of the new arm.
The new investment arm, to be concurrently headed by Emivest’s chief investment officer Anthony Power, will provide strategic corporate and advisory services, including the implementation of corporate governance, restructuring, mergers and acquisitions and market development services.
Emivest Capital said it will soon be launching hedge funds, healthcare funds and opportunistic funds, ranging in value from $500 million to $1 billion depending.