Essdar Capital Joins the DIFCPress Release 14 Apr 2008 11:39 am
Essdar Capital, a newly established specialized principal finance and advisory firm, today announced that it has been granted two licences by the Dubai Financial Services Authority (DFSA) to operate and establish two entities in the Dubai International Financial Centre (DIFC).
From the DIFC, Essdar Capital Limited will offer a full range of advisory and financial services, including arrangement of securitized, hybrid and subordinated debt. With Essdar Capital Limited’s highly qualified and experienced management team responsible for some of the pioneering transactions in the region, it is exceedingly well positioned to accommodate the financing needs of the Middle East’s largest issuers.
Nasser Al Shaali, Chief Executive Officer of the DIFC Authority, said: "As the fastest growing financial centre in the world, the DIFC is committed to providing a broad range of financial instruments to cater for the needs of the region's investor community. We are delighted to welcome Essdar Capital to the DIFC community and we are confident that their products and services will become valuable additions to the financial mechanisms already available at the centre."
Essdar Capital's shareholders are amongst the UAE's sovereign funds and prominent private institutions. Mr. Khalil Foulathi, Chairman of the Board of Essdar Capital said: "Essdar was established to provide objective, global class investment banking and asset management expertise to the region's major institutions. Its two DIFC companies, Essdar Capital Limited and Essdar Capital Managers Limited are to be the flagship of the Group. Essdar Group is now fully operational with a strong regional team recruited from major global financial centers."
Abdulla said: "In this new role, I am keen to contribute further to the success of an organisation that has become a powerful force for financial industry growth in this region. I look forward to working more closely with the team to drive business development strategies that will support the company's mission."