Close Window
Brought to you by MEED
Print

MEED

Dubai International Capital targets US investments

Dubai International Capital (DIC), the private equity arm of Dubai Holding, plans to open an office in New York in the next 18-24 months.

The company is also looking at establishing an office in Asia. Its only existing overseas office is in London.

DIC is looking at investing in more US publicly-listed companies, despite the drop in share price of its only current US-listed investment, hedge fund Och-Ziff Capital Management Group. DIC bought a 9.9 per cent stake in the fund in October for $1.25bn, at $32 a share, just prior to the hedge fund’s initial public offering. The shares are now trading at about $22.

DIC has no plans to sell its stake in the fund, according to a company spokeswoman. “All our investments are for the long term,” she says. “The point of setting up the office will be to be closer to the market.”



Story from MEED: http://www.meed.com/news/2008/02/dubai_international_capital_targets_us_investments.html

_uacct = “UA-2713696-1”; urchinTracker();

 

Leave a Reply

Looking for something?

Use the form below to search the site:


Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!