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- Dubai 05:30 06:49 12:14 15:11 17:33 18:52
NBD Sana Capital has successfully closed a $500m (Dh1.83bn) Shariah-complaint private equity fund, one of the region’s largest.
The firm, an affiliate of National Bank of Dubai (NBD), has recently set up shop at the Dubai International Financial Centre and hired 22 investment professionals.
It has also been harder to buy out companies over the past six months. A number of deals in the US and Europe have collapsed due to tighter credit and more stringent covenants for loans.
The abundant liquidity in the GCC has made it a natural source of cash for US-based funds, highlighted by last year’s $1.35bn that Mubadala pumped into Carlyle Group for a 7.5 per cent stake.
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