Abu Dhabi Investment House, or ADIH, said Monday it launched a $300 million Shariah-compliant fund to tap opportunities in fast-growing hospitality sectors across the Middle East, North Africa and Asia.
The Hospitality Development Fund, which has a projected 20% internal rate of return, has Bahrain-based Gulf Finance House and Ithmaar Bank as advisors and has already identified several investment opportunities, ADIH said in an emailed statement.
"We are confident to raise target capital within the target subscription period," managing director Rashad Janahi said in the statement.
The fund will invest in hospitality sub-sectors, including airlines, tourism, and accommodation, and will target both new development projects and existing hospitality and entertainment companies with "potential for growth," the statement said.
ADIH was created in 2005 as a private investment company.
No comments:
Post a Comment