Islamic fund eyes private buyouts

Islamic fund eyes private buyouts

money 

Global Investment House, Millennium Capital and Dubai Islamic Bank have received approval from the Central Bank of Bahrain for a US $500 million Islamic buyout fund.

The fund will provide investors access to Shariah compliant private equity investments, which the partners see as a largely untapped asset class across the region.

As seed investors, Global, DIB and Millennium Capital will be contributing 13% of the fund’s capital. Global will be the investment manager to the Fund, while Millennium Capital will act as investment advisor.

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