Source: AltAssets.

DIC Asset Management, a wholly-owned subsidiary of Dubai International Capital, the international investment arm of Dubai Holding, HSBC Bank Middle East and Oasis International Leasing have announced a first closing of the MENA Infrastructure Fund with commitments totalling $300m. The fund has a $500m target.

Commitments came from the three sponsors and from other investors including institutions based in the MENA region and Europe.

Robert Swift, CEO of the MENA Infrastructure Fund, said, "We are pleased to have completed the first round of fundraising for the MENA Infrastructure Fund. The positive response by investors is indicative of their confidence in the region and in the fund's ability to deliver attractive returns from an asset class with low volatility.............

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Posted by dcjaya at November 14, 2007 12:45 AM