Dubai International Capital exits most regional positions | GulfNews.com

Dubai International Capital exits most regional positions | GulfNews.com:

"Dubai International Capital LLC (DIC), the private equity firm owned by Dubai Holding has completed exits from most of its Middle East private equity investments delivering robust returns, said Maissan Al Maskati, Managing Director — Private Equity of DIC.
Speaking to Gulf News in an interview Al Maskati said the recent sale of its shares in luxury-lifestyle retailer Rivoli Group nearly completes the regional investment cycle.
DIC’s stake in Rivoli was acquired by Swatch Group for an undisclosed sum earlier this month. While DIC did not disclose the selling price, bankers estimate the deal around $110 million (Dh367 million) while the total value of its Middle East exits so far is estimated to be close to $900 million.
“With the sale of our stake in Rivoli, we have exited all our Middle East private equity positions in our portfolio with the exception of a hotel investment in Bahrain. Our regional growth equity portfolio has generated a realised net internal rate of return (IRR) in excess of 15 per cent and nearly 2 times multiple from the money we deployed since our launch in 2005,” Al Maskati."

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