Abu Dhabi brings investment fund to London
Abu Dhabi Capital Management (ADCM) is to list Qannas Investments Limited on London’s Alternative Investment Market (AIM), part of the London Stock Exchange.
The listing will take the form of a closed-ended investment company incorporated in Jersey and regulated by the Jersey Financial Services Commission. ADCM, an alternative investment management firm based in Abu Dhabi, will be the investment manager.
Established in January 2011, it manages more than $100m in assets for institutional and high net worth investors, deployed in private equity and debt investments. The ADCM team, based in Abu Dhabi, is led by JassimAlseddiqi and comprises six investment professionals with a total of more than 40 years of investment management and finance experience.
Qannas will seek to generate a target internal rate of return of at least 20% by investing in a diversified portfolio of undervalued equity and debt investments, with a focus on the Gulf Cooperation Council (GCC) countries.The Qannas board consists of four directors: three independent directors and JassimAlseddiqi, CEO of ADCM. It will be chaired by Chris Ward.