Dubai International Capital has hired Alykhan Nathoo from Bain Capital in London to head its emerging markets division.
At Bain, Nathoo helped develop its European operations, and was involved in its recent $1.7 billion (€1.2 billion) acquisition of Ideal Standard Bath & Kitchen.
His appointment comes a few weeks after DIC's emerging markets division closed its third private equity deal with the purchase of a 45 percent stake in steel casings maker KEF Holding. The division expects to have $5 billion in capital under management within the next three years, with investments targeted at the MENA region as well as Asia, Eastern Europe and Latin America.
The firm also hired Eric Kump and Marc Hollander as managing director and finance director, respectively, for DIC Private Equity.
Kump, who will lead DIC’s private equity team in Europe from its London office, was previously a managing
director for Merrill Lynch Global Private Equity, while Hollander was responsible for controlling the $2.5 billion private equity portfolio for Swedish investment company Investor AB.
The firm’s private equity division invests mainly in secondary buyouts in developedmarkets, with some of its largest acquisitions including UK leisure company Tussauds Group, which was purchased for £800 million; US engineering firm FastenTech, purchased for $492 million; and German aluminium producer Almatis, purchased for $1.2 billion.
DIC has grown its team from 30 to 70 people over the past year, including the hiring of David Smoot from Morgan Stanley this summer to develop the firm’s US operations.
DIC, established in 2004, is a wholly owned subsidiary of Dubai Holding, which manages assets of more than $12 billion. It has two offices in London and Dubai and is planning a third in New York sometime in 2009.