Dubai: Bahrain-based Islamic investment firm Arcapita has completed a $100 million fund-raising from new and existing shareholders in the Gulf just over a year after it emerged from Chapter 11 bankruptcy.
The money will help Arcapita to make investments in the Gulf region as well as in international markets including United States, Asia and Europe, it said in a statement on Tuesday. Arcapita went through the Chapter 11 bankruptcy process after struggling to meet a $1.1 billion debt obligation in the wake of the global financial crisis. It completed its restructuring in September 2013. The firm aims to benefit from a rebound in private equity business in the Gulf asset values recover and deal flow returns.
