DUBAI: Abu Dhabi-based asset manager Al Dhabi Capital (ADC) said on Thursday it has launched a Middle East and North Africa (MENA)-focused equities fund.
The Al Dhabi Capital MENA Fund is seeded with $100 million from its United Arab Emirates-based parent company, Al Dhabi Investment.
ADC, which manages over $600 million in public equities on behalf of institutional investors, said the new fund "follows a bottom-up stock-picking process and seeks to invest in liquid equities with a long-term, buy-and-manage approach."
The asset manager is based in Abu Dhabi Global Market, an international financial centre in the capital of the Emirates.
Its fund is domiciled in the Cayman Islands.
(Reporting by Hadeel Al Sayegh; Editing by Devika Syamnath) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))