News

GII in US real estate investment venture

Real_estateDubai-based Gulf Islamic Investments (GII) has signed a joint venture with US boutique asset manager FD Stone Water (FDS) to manage real estate investments in the US. The Islamic manager has more than $1.5 billion in assets under management in the US, UK, Germany and the UAE. The venture with FDS is in keeping with its strategy of recruiting regional partners to help identify investment opportunities in its chosen markets. According to GII co-founder Mohammed Al Hassan, FDS will “play an active role in the management of the US assets and assist in the investment exit, with guidance from GII”. “The US is a key target market, where GII has existing as well potential new investments and we believe this partnership with FDS will deliver incremental returns to our stakeholders,” said fellow co-founder Pankaj Gupta. The agreement was welcomed by FDS principal David Stade who stated that investment from the GCC in to the US commercial market has been growing and that FDS is “happy to have partnered with GII to realise such opportunities”. ©2018 funds global mena

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