Pelaburan Mara Bhd (PMB) is partnering Al Rajhi Group's AEPInvestment Management Ltd (AEPim) to set up a $200 mln (636 mlnrgt) private equity fund for investing into global real estates,with an eventual goal of listing the assets as a real estateinvestment trust (REIT) in a major exchange.
PMB's newly appointed group chief executive officer (CEO)Nazim Rahman told The Edge Financial Daily that the fund, calledBasil Fund, is registered under the Monetary Authority ofSingapore and will be launched on October 21.
"We are in active discussions with investors from Qatar,Brunei and Saudi Arabia to join as investors in the Basil Fund,he revealed.
Nazim, who joined PMB in the middle of July, said thegenesis of this Basil Fund will propel PMB into theinternational property markets and give it the opportunity tocollaborate with AEPim, where it could leverage on the latter'strack record, international presence and access to Syariah-basedcapital across multiple markets.- The Edge.
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