Aldar Hits Target

Ithmaar Bank, Shamil Bank and Islamic Investment Company of the Gulf (Bahamas) – (IICG) have met their target of raising $200 million for the first closing of their $500 million Aldar Private Equity Fund, according to Mist News.

The closed-ended investment fund, established under the laws of the Kingdom of Bahrain, provides investors with the opportunity to access alternative asset investments globally, covering real estate, the general private equity sector and, possibly, Sharia-compliant hedge funds. The fund will have a special emphasis on the high growth regions of the Middle East. www.ithmaarbank.com