IslamicFinance.de

Bahrain’s Arcapita Bank BSC has raised $100 million from shareholders to fund a return to dealmaking a year after it emerged from bankruptcy. The new equity will be used to fund Shariah compliant private equity and real-estate investments in Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Oman and Kuwait. Arcapita will also look at U.S., Asian and European investments at a later stage. Arcapita emerged from bankruptcy in September 2013 after securing a $350 million loan from Goldman Sachs Group. Under the terms of its debt restructuring, a new company called RA Holding Corp. was created to manage Arcapita’s $3 billion of assets. Arcapita earned $10.1 million in the fiscal year ended June, mostly from fees for managing RA on behalf of creditors.