Abu Dhabi Investment eyes new fund

Abu Dhabi Investment House is looking to raise a second private equity fund, less than a year after closing its maiden fund on $75 million (€58.7 million) at the end of last year.

The new fund will invest in pre-IPO deals, strategic private equity deals and mezzanine financing, and taking control stakes. The firm declined to comment on new fund’s target size and when the pending launch will take place.

Established in 2005, the firm said returns from its maiden Al Arabi Private Equity Fund, as of June 30, were 20 percent, in line with expectations.

Some of the major investments of Al Arabi include Al Ryan Bank of Qatar, in which the Fund acquired a stake before to an IPO, and a substantial stake in Bahrain-based leasing equipment bank First Leasing Bank.

The firm also manages a portfolio of investments in the region’s infrastructure and property development. They include Beirut Gate, a $600 million real estate development in Lebanon, a $1.2 billion agreement with Qatar’s Diar Real Estate company to develop an entertainment district in Qatar, and a €144 million German property fund.