SHUAA Capital

Sameer Al Ansari (pictured), CEO of investment bank SHUAA Capital, has resigned. The event comes only a few months after it lost its head of private equity, Anis Bibi.

Anis Bibi has resigned from Dubai-headquartered SHUAA Capital, which is slashing 11% of its workforce amid first quarter losses.

Shuaa Capital Saudi Arabia, a subsidiary of Dubai-based Shuaa Capital, has completed a land acquisition on behalf of its Shuaa Hospitality Fund. According to an announcement by the firm, the deal is the “first of its kind” in the country.

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.

Year-over-year third quarter private equity revenue fell 90% for SHUAA, which recorded no exits or deal activity from July to September.

DIC's Sameer Al Ansari will head the firm's operations, following the resignation of Iyad Duwaji.

Iyad Duwaji has ended a 20-year career with SHUAA to set up an independent private equity platform. DIC's Sameer Al Ansari has reportedly been considered as a replacement.

The two Middle Eastern financial institutions have settled a dispute relating to the conversion of bonds into stock, giving Dubai Banking Group a 48% stake in SHUAA.

The past 12 months have brought unprecedented turmoil to markets everywhere, and the private equity industry suffered profound ripple effects from many of the year’s most dramatic events.

The firm fell under control of its debt-laden parent, Dubai Holding, in January, the same month Sameer Al Ansari resigned as executive chairman.

How the market reacted to Dubai World's decision to seek a six-month standstill on its debt. PERE Magazine December 2009-January 2010 issue

Hany Shawky will step in as acting head of private equity, as Dash ends a 9-year stint with the Kuwait investment firm to 'pursue other interests'.

The Dubai-based firm has made two senior level appointments and expects to make more this year as it continues raising its $4bn Fund III.

Dubai World-owned Istithmar World has reduced its staff by 13 in a bid to address existing market conditions.

The second fund being raised by the MENA-focused firm is expected to reach its $350m target within a few months.

The Paris-headquartered private equity firm has opened two new locations this year on the heels of closing its €1.6bn Fund IV.