Rasmala, a Dubai investment bank, has withdrawn its private equity fund as part of its restructuring efforts.
The fund, which is Sharia-compliant, was launched last year and had targeted investment of US$300 million (Dh1.1 billion). Rasmala will now focus on single deals.
"We felt in this private equity fund investors had less of an appetite but we have completed a very extensive restructuring," said Ali al Shihabi, the founder and chairman of the bank.
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