Ramsco's Women Empowerment Initiative Recognized Among Top BRICS Businesswomen Practices for 2025    Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    Gold prices end July with modest gains    Pakistan says successfully concluded 'landmark trade deal' with US    Egypt's FM, US envoy discuss Gaza ceasefire, Iran nuclear talks    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Rafah Crossing 'never been closed for one day' from Egypt: PM    I won't trade my identity to please market: Douzi    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt's EHA, Huawei discuss enhanced digital health    Egypt, Oman discuss environmental cooperation    Egypt's EDA explores pharma cooperation with Belarus    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Invest AD to launch Middle East PE fund
Published in Daily News Egypt on 31 - 05 - 2010

SHANGHAI: Invest AD, which manages investments for the Abu Dhabi government and institutional investors, said on Monday it was launching a private equity fund to invest in the Middle East and its Hong Kong partner will close subscriptions for a separate Middle East stock fund in June.
Invest AD, formerly known as Abu Dhabi Investment Co, says that the oil-rich Middle East, long seen as a source of capital, is also an attractive destination for Asian investors seeking to diversify their portfolios as economic growth in the region will remain robust and valuations of assets there comparatively low.
"Abu Dhabi is a gateway to enter the Middle East," Mohammed Salih Al Hashemi, executive director of investment management, told Reuters in Shanghai. "There're opportunities beyond Abu Dhabi to Chinese investors."
Asked if the company, which has been investing on behalf of the government since 1977, was interested in investing in the Agricultural Bank of China's initial public offering in Shanghai and Hong Kong, he said he was not aware of such plans.
The China Business News reported on Monday that several Middle Eastern sovereign wealth funds were holding talks with AgBank about investing in the bank's $30 billion listing, which would be the world's largest IPO.
Invest AD, which was given a mandate in 2007 to attract third party funds, has ambitious targets to grow its asset management business and has so far launched four funds that invest in listed equities.
Earlier this month, Invest AD partnered with Hong Kong financial services Group Quam Ltd to launch a Middle East equities fund targeting Asian investors.
The Quam Middle East fund will look to raise around $50 million to invest primarily in companies in the UAE, said Bernard Pouliot, chairman of Quam.


Clic here to read the story from its source.