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Mon 16 Jul 2007 11:43 AM

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Gulf Capital to launch new services

Abu Dhabi-based private equity firm licensed to offer asset management and investment banking services.

Gulf Capital has been granted an investment company licence from the UAE Central Bank, which will allow it to provide asset management and investment banking services.

The firm is now preparing to launch its alternative asset management platform and begin marketing a new regional private equity fund.

Hareb Al Darmaki, chairman of Gulf Capital, said: "Securing the Investment Company Licence is a significant milestone for Gulf Capital as it will allow us to expand into new areas of activity such as asset management and investment banking. We have a strong commitment towards corporate governance and are already working towards meeting the Central Bank's requirements and regulations.

"I would like to express my sincere thanks and appreciation to the UAE Central Bank, its board of directors and its Governor for their support throughout the application process."

Gulf Capital was established in Abu Dhabi last year with a capital base of $330 million.

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