Sunday 12 June 2011

Oman's OIFC to back out from Rasmala PE fund investment | News by Country | Reuters

Oman Investment & Finance Co (OIFC) OIFL.OM on Sunday said it decided to withdraw from investing in Dubai investment bank Rasmala's private equity fund after issues emerged related to the establishment of the fund.

OIFC said it had disclosed on February that it may invest up to $5 million in Rasmala MENA (Middle East North Africa) Private Equity Fund 2. In a statement to the Muscat bourse, OIFC said it has no commitments or liabilities to the fund.

OIFC did not provide any additional details. Rasmala was not immediately available for comment.

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