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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Dubai eyes $500mln distressed property fund by end-2013

Posted on 10 May 2013

Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund, and Canada’s Brookfield Asset Management expect to secure the $500m in financing needed to launch a real estate fund to help recapitalise stalled or semi-complete projects in Dubai by the end of 2013.
“Right now we are dealing with the licence at the DIFC [Dubai International Financial Centre]… If you mean launch as in active marketing and legally able to do it, we will hit that point right before Ramadan,” Douglas Kirkman, CEO of ICD-Brookfield Management Limited and manager of the ICD-Brookfield Dubai Real Estate Fund, said…………………………………Full Article: Source


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