Ithmaar and Shamil raise $200m for Aldar PE Fund

MANAMA — Ithmaar Bank, Shamil Bank and Islamic Investment Company of the Gulf (Bahamas) (IICG) yesterday announced that they have met their target of raising $200 million for the first closing of their $500 million Aldar Private Equity Fund.

There are few initial investors, and now the opportunity will be shown to selective other investors. The closed-ended investment fund, established under the laws of the Kingdom of Bahrain, provides investors with the opportunity to access alternative asset investments globally, covering real estate, the general private equity sector and, possibly, Shariah-compliant hedge funds.

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