Gulf Capital Receives Best Alternative Investment Firm 2017 at Banker Middle East Industry Awards
Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, won the “Best Alternative Investment Firm 2017” at the Banker Middle East Industry Awards, the region’s leading financial sector recognition event. The ceremony was attended by prominent industry leaders and banking and finance experts from the Arab World and covered a variety of financial services, representing more than 200 institutions.
The accolade was presented to Dr. Karim El Solh, Chief Executive Officer of Gulf Capital, Chris Foll, Chief Financial Officer at Gulf Capital, Richard Dallas, Senior Managing Director at the Firm’s Private Equity Group, Walid Cherif, Senior Managing Director and Head of the Private Debt Group, Fidaa Haddad, Managing Director at the Private Debt Group, along with their teams.
Commenting on the recognition, Dr. Karim El Solh said: “We are extremely proud to have won this award and to be recognised as the premier alternative investment company in the region. This award is a recognition of our growth, scale and the diversity of our platform and of our investment track record exceeding 10 years in the MENA region. Gulf Capital today manages over AED 14.7 billion (US$4 billion) of assets across 10 funds and investment vehicles. This year has been quite an active one for Gulf Capital and its various divisions. The highlight of the last quarter was the successful final closure of Gulf Credit Opportunities Fund II which closed oversubscribed in December above its target cover of US$250 Million (AED925 million).”
He added: “On the Private Equity side, our private equity team has been busy deploying our third private equity fund, GC Equity Partners III. This fund is focused on defensive or fast growing sectors such as food, consumer goods, FMCG and technology in the Middle East. Fund III’s latest investment is in Emirates Auction, the largest online and offline auction company in the UAE. This investment provides Gulf Capital with an excellent exposure to the booming E-Commerce sector in the GCC. Another Fund III investment is the acquisition of a majority stake in the online marketplace Sporter.com. To date, Gulf Capital has invested over AED500 million in E-Commerce and technology investments and it intends to increase its allocations to these sectors in the future.”
He concluded: “This award is testament to the strong contribution and dedication of all the Gulf Capital team and we look forward to further successes in the years to come.”