Arcapita to complete exits worth USD1b

20 Jun 2011

(MENAFN) Arcapita’s CEO, Atif Abdulmalik, said that by the end of 2011, the Bahrain based investment company would complete exits worth about USD1 billion and would launch new investments, reported Arabian Business.

Abdulmalik added that early this year, the firm sold a portfolio of senior living communities in the US for USD630 million and in 2010, it raised around USD435 million from its investment in Maple Tree Industrial Trust, the property company.

He also said that the global financial crisis had its impact on the company, it struggled to exit its investments as a result of global investors’ fears, in addition, its fee income from raising fresh funds in the Gulf Arab region collapsed.

It is worth noting that last year, Arcapita posted a loss of around USD560 million, following a net loss of USD87.9 million in 2009. On the other hand, it forecasts a net income of USD50 million this year.

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