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Abu Dhabi's Gulf Capital plans to double asset portfolio with new USD750m investment fund
(MENAFN) Abu Dhabi-based asset manager Gulf Capital is planning to raise over $750m through a new investment fund, according to the company's CEO, Karim El Solh.
Gulf Capital currently has $2.4bn in assets under management and aims to double that figure to $5bn in the next five years. The firm expects the GC Equity Fund IV to reach its first closing over the summer and to achieve its final funding target in early 2024.
El Solh added that the company's previous fund raises have increased in size, with the first being $190m, the second $533m and the third $750m. For the GC Equity Fund IV, Gulf Capital has received strong interest from existing investors, backed by sovereign wealth funds, family offices and pension funds, as well as new investors in Asia.
The company recently received licences from regulators in Abu Dhabi Global Market and Singapore to help it expand operations, raise funds and tap a wider pool of investors.
Gulf Capital currently has $2.4bn in assets under management and aims to double that figure to $5bn in the next five years. The firm expects the GC Equity Fund IV to reach its first closing over the summer and to achieve its final funding target in early 2024.
El Solh added that the company's previous fund raises have increased in size, with the first being $190m, the second $533m and the third $750m. For the GC Equity Fund IV, Gulf Capital has received strong interest from existing investors, backed by sovereign wealth funds, family offices and pension funds, as well as new investors in Asia.
The company recently received licences from regulators in Abu Dhabi Global Market and Singapore to help it expand operations, raise funds and tap a wider pool of investors.
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