US Paladin, UAE’s Invest AD establish JV
15 May 2012
(MENAFN) US Paladin Capital Group’s Founder and Managing Partner, Michael Steed, announced that the company set up a private equity joint venture with Invest AD, the Abu Dhabi-based investment firm, reported Emirates 24/7.
Steed, who also chairs Paladin Capital (Middle East) Limited, a company registered in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority, said that the aim of the new joint venture is to bring investments to the Middle East and North Africa (MENA) region and Turkey.
He added that Paladin Capital Middle East and Invest AD, which is a subsidiary of the Abu Dhabi Investment Council, will establish a USD100 million fund to benefit from the region’s growing economic opportunities.
It is worth noting that gross domestic product (GDP) of the MENA region and Turkey is forecasted to be at 4.7 percent in 2012 and 3.8 percent next year.