Istithmar World to seek opportunities worldwide: Shirawi

Restating the group's commitment to identifying world-class businesses for investment, Adel Al Shirawi, Vice-Chairman of Istithmar World, said: "Istithmar World's primary focus is growth and asset appreciation through a diverse portfolio which spans the globe. Going forward, we will continue to seek opportunities worldwide, including in the United States, where we already have an active asset base. The US continues to offer good returns and attractive opportunities with a diversified sector base and excellent leveraging.

"Following the highly successful investment in Barneys New York in 2007, Istithmar World successfully acquired a majority stake in Gulf Stream Asset Management LLC, a leading US-based institutional asset manager, last month." "This reinstates our commitment to international markets and our desire to invest in truly exceptional opportunities," he added.

"Istithmar World has a proven track record of successful investments and will continue to leverage its international expertise and resources in considering future opportunities to further expand its broad portfolio across markets."