New Ithmaar Bank Fund Targets Water Sector

8 Jan 2007 by Local Press Report
MANAMA, Bahrain

— Bahrain-based Ithmaar Bank is co-sponsoring a new $2 billion USD Shariacompliant fund aimed at regional infrastructure investment. The main sectors targeted for the fund are water, power and utilities, health care, education, transportation and ports, oil and gas, petrochemicals, and industry and mining. Investment opportunities in these sectors total more than $630 billion USD, according to a report by Abraaj Capital, which is managing the new fund. The Infrastructure and Growth Capital Fund's other co-sponsor is Deutsche Bank. The fund will have a target internal rate of return of 20 percent annually and a life of 10 years...

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