PBOC Says It Adds Short-term Funding to China Money Market
Gulf Finance House Seeks Property, Asset Management Acquisitions
Gulf Finance House EC (GFH), the Bahraini investment bank that in July reached a deal to restructure debt, said it’s looking to make acquisitions in asset management and real estate and boost its stake in current holdings.
Gulf Finance is conducting due diligence on the possible acquisitions, the Manama-based company said in a statement today, without elaborating. The regulatory filing was made in response to a Sept. 2 newspaper report that quoted acting Chief Executive Officer Hisham al-Rayes, the company said.
Gulf Finance subsidiary G Capital is in talks “with various prospective partners” to start a second technology fund after the first one was “very successful,” Gulf Finance said. Dubai-based G Capital and a partner last year won a bid to buy Adabank AS of Turkey for $75 million. The full acquisition “can only happen after all the formalities of the Turkish regulator have been completed,” Gulf Finance said today.
The company said in July it reached an agreement to restructure an Islamic syndicate facility whereby it will pay $45 million of a $100-million Wakala facility over six years. Gulf Finance operates in venture capital, private equity, investment banking and asset management, as well as investing in infrastructure projects in the Middle East and North Africa, according to its website.
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