Mid East investor plans $200m AIM spin-off

18 Jan 2012

Abu Dhabi Capital Management, a private equity fund, said it plans a $50m AIM listing of a closed ended investment company which will invest in undervalued equity and debt assets in the GCC region. It will target a $200m size for the fund, called Qannas, and plans to quickly return to investors with pre-emptive capital raises as it deploys its firepower.

"We believe that this is an under-invested region with strong credentials,” said Qannas chairman Chris Ward, a former global head of corporate finance at Deloitte. “Liquidity dislocation in the region has led to declines in asset values, creating compelling investment opportunities.”

The fund will target a 20% internal rate ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial