Dubai International Capital (DIC) looks to spread its investment wings
Simon Brady speaks to Sameer Al Ansari (SA), executive chairman, Dubai International Capital, and Rabih Khoury (RK), DIC’s head of Middle East and North Africa Investments about the strategies of the international investment arm of conglomerate Dubai Holding and how it fits in the Dubai Investment Group.
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Dubai Holding contains a number of financial and investment groups that seem to overlap. Capita Investment Group, Dubai Investment Group (DIG) and Dubai International Capital (DIC) all seem to focus at least partly on alternatives, financial assets, industrial stakes, private equity, asset management and Islamic financing (which the group also targets through its Noor Investment Group). How do these companies fit together – in particular DIG and DIC?
DIG – or one of the two investment offices for Dubai Holding – was founded a year-and-a-half earlier and at the time focused more on funds, funds of funds, hedge funds and trading equities, regionally and internationally. It also did some US real estate and it also tends to work on projects with Jumeirah [the hotels and construction arm of Dubai Holdings], where the asset is held by DIG and managed by Jumeirah via a management contract.