Dubai International Capital, the private equity firm of Dubai's ruler, Sheik Mohammed bin Rashid al-Maktoum, is planning to open an office in the United States within the next year. The investment fund is seeking to diversify its portfolio by investing in US companies. Until recently, the fund's portfolio had been primarily European based.
DIC chief executive Sameer al-Ansari was quoted as saying that DIC was looking at about five Fortune 500 companies for possible investments, with about another 15 on a close-watch list.
Financial News/New York Times
