Dubai International Capital

After just two years in business, Dubai International Capital has amassed a $5 billion portfolio of public and private assets. Much more is to come, chief executive Sameer Al Ansari tells PEI Asia.

Bridgepoint lost the bulk of its minority stake in Alliance Medical as part of a restructuring deal, while Dubai International Capital will see its stake in the business reduced from 60% to just 2.5%.

Sameer Al Ansari has taken on a non-executive role at Dubai International Capital in order to focus more on his CEO responsibilities at SHUAA Capital.

Dubai International Capital and financial services company Dubai Group are consolidating back office operations under Dubai Holding Investment Group.

Dubai International Capital and Dubai Group have been placed into the same holding company, while the debt-laden emirate has also combined back office functions for its three real estate entities.

Sylvain Denis and Alan Hyslop are to leave Dubai International Capital, leaving the firm’s private equity business in the care of portfolio managers David Smoot and Eric Kump.

Backed by Dubai International Capital and First Eastern Investment Group, the fund’s plans to close on $1bn by October have been dashed by investors’ lack of liquidity.

Dubai International Capital remains bullish on opportunities in the emerging markets despite the effects of current market troubles, its COO Anand Krishnan said at the recently concluded Private Equity International India Forum in Mumbai.

The Turkish pension fund is targeting investments mainly in North America and Europe.

CD&R, which picked up the business for $1.7bn, fought off competition from Ardian, Pamplona & Platinum.

The UK-based leisure group - which has seen its revenues grow from £50m to more than £1bn under Blackstone's ownership - was valued at £3.2bn when its IPO priced on the London Stock Exchange this morning.

Private equity’s push into the Middle East and North Africa (MENA) continues unabated. Although funds raised in the region still outweigh funds invested, local and international interest in MENA private equity is intensifying.

Exclusive research by Private Equity International, PEO’s sister magazine, shows conclusively London rivals New York as a key private equity hub. The incoming UK premier will do well to remember that.

The numbers spell short-term gloom, but private equity is right to trumpet its long-term perspective. The trick will be in judging when the falling knife has hit its floor.

Middle Eastern private equity is booming, but LPs from outside the region have been reluctant to make inroads.

The fates of two European aluminium businesses raise questions about the combination of private and sovereign capital.