Dubai-based investment manager has teamed up with London-based Mena Capital to develop a number of new equities offerings.
Al Mal has appointed Khaled Abdel Majeed, co-founder of Mena Capital, as the lead portfolio manager for its Mena equities products.
Majeed will be directly employed by Al Mal and will relocate from London to Dubai to head up an enlarged team managing a range of funds owned by both firms but will continue to run Mena capital’s own Admiral hedge fund and long-only Alchemy fund.
Mena Capital will market the firms’ funds globally while Al Mal, which was acquired by Dubai Investments in 2015, will be responsible for marketing the funds in the Middle East.
According to Roger Allen, managing partner at Mena Capital, the collaboration will “deliver the enhancements investors have requested” which include greater sustainability, more sizeable assets under management and a more developed regional network.
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