DUBAI, 18 October 2006 — Dubai International Capital (DIC), the international investment arm of Dubai Holding, has launched NewDawn GSE Asset Management Ltd. (NewDawn) — a new fund manager to operate in the Dubai International Financial Center (DIFC).
NewDawn has been established, through DIC’s affiliate, Dubai International Capital Asset Management Ltd. (DICAM), to operate and manage the Global Strategic Equities Fund, a proposed $2 billion fund investing in large cap equities listed on stock markets around the world.
The establishment and licensing of NewDawn is one of the final steps required before DICAM completes the initial closing of the Global Strategic Equities Fund, which is expected in late October. Sameer Al-Ansari, chief executive Officer, Dubai International Capital, said: “The launch of NewDawn and the subsequent Global Strategic Equities Fund is an important development in the evolution of DIC and DICAM as global investment entities”.