The menu is designed to showcase a diverse array of India's most popular snacks
The announcement was made at the Qatar Economic Forum held in Doha recently.
The fund will acquire majority stakes in stable and mature businesses through funding MBOs, MBIs, LBOs and recapitalisations.
CIPEF I has achieved a breakthrough in Islamic finance, making it the first private equity fund that offers a Shariah-compliant mezzanine structure worldwide. This innovative structure overcomes one of the main traditional funding barriers for the growth of the Islamic private equity industry.
CORECAP's board includes Mohammed bin Jassem Al Thani, former minister of economy and commerce in Qatar, as chairman, Rohit Walia, CEO and managing director of Bank Sarasin-Alpen (ME) Ltd. and Alpen Capital (ME) Ltd., a leading Swiss private and investment banks, as vice-chairman, and Omar Adel El Maghawry, managing director, and Khaled Hassan Rashed, CEO and board member, representing CORE Partners, an investment management firm.
The global Islamic finance industry is valued at $800 billion, growing by an estimated 15-20 per cent per annum.
"We are proud to be announcing CIPEF I, the first of our family of Islamic private equity funds. It will invest in Shariah-compliant businesses across a wide array of industries. CIPEF I is a close-ended 6-year fund targeting a minimum internal rate of return of 25 per cent per annum and open to institutional and high net worth and investors with a minimum investment requirement of $3 million. It will be governed by an independent Shariah board comprising prominent Shariah scholars from the region," explained Rashed.
The menu is designed to showcase a diverse array of India's most popular snacks
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