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Wednesday, 15 June 2011

More private equity funds on the anvil - Times of Oman

The Financial Corporation (Fincorp) sponsored private equity fund, which has achieved its first closure at RO12 million, is considering more such funds at a later date, after successfully investing the initial fund.

“Our aim is to create more funds under the new company. We can start a different fund focusing on a separate sector,” Munir A. Makki, managing director and president of the Fincorp told Times of Oman, on the sidelines of announcing the official launch of Fincorp Oman Private Equity Fund here yesterday.

Fincorp-sponsored fund, which has a target corpus of RO20 million, is expected to achieve its final closure for raising the remaining portion by the end of this financial year.