Guidance Financial Group, an international Islamic financial services company, has reported the successful closing of Asia's first Islamic private equity fund.
Guidance structured the fund in collaboration with Navis Capital Partners to offer Islamic investors in the Gulf and South-East Asia the opportunity to participate in Navis's latest $86 million round of fund raising. Guidance is a sponsor and Shariah advisor to the fund and spearheaded its placement in the Arabian Gulf.
The fund makes acquisitions of market-leading enterprises in well-established industries throughout Asia through management buy-outs, management buy-ins, restructurings and recapitalizations. Fund investments are made by Navis, which was established in 1998 by former senior executives of the Boston Consulting Group.
“Access to professionally managed buyout funds has been practically non-existent for Shariah-compliant investors,” stated Guidance's Head of Institutional Business and Product Development, Hasnita Hashim. “There is no reason why Islamic investors should not have access to world-class private equity groups.”
Guidance Financial Group provides Shariah-compliant financial products and services internationally. The company's activities range from providing consumer finance solutions to the retail market in the United States to offering a range of investment products to its international investor base. — (menareport.com)
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