Dubai International Capital LLC hired five executives from Deloitte & Touche LLP as the private equity firm seeks to increase the value of its investments in companies including Mauser AG and Doncasters Group Ltd.
Richard Clarke will lead the newly-created portfolio monitoring group whose work will include due diligence on financing, refinancing, bolt-on-acquisitions and eventual sale, the company owned by Dubai’s ruler said in a statement. The team will also include Raj Mehta as director and three senior associates from Deloitte Corporate Finance.
Dubai International Capital, owned by Sheikh Mohammed Bin Rashid Al Maktoum’s Dubai Holding LLC, last year reached an accord to alter terms of $2.5 billion of liabilities. The company was one of several government-related entities that restructured terms on debt after the collapse of Lehman Brothers Holdings Inc. in 2008 roiled credit markets and triggered a slump in the emirate’s real-estate prices.
The private equity firm’s investments include stakes in Mauser, Doncasters, Almatis GmbH and Och-Ziff Capital Management Group LLC (OZM), according to information on its website. It exited investments in Travelodge Ltd., Tussauds Group and ICICI Bank Ltd. (ICICIBC) among others.
“This very experienced team will deepen and broaden our ability to develop our portfolio companies,” Dubai International Capital’s Chief Executive Officer David Smoot said in the statement. The team will help the company “ensure our businesses are well-positioned for growth and, when the time is right, are able to command strong valuations at sale,” he said.
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