30 September 2015
QInvest, Qatar's leading investment bank and one of the most prominent Islamic financial groups in the world announced today that it has launched the QInvest Pramerica Liquid Real Estate Fund (the "Fund") in partnership with Pramerica Real Estate Investors ("Pramerica"), the real estate investment management business of U.S.-headquartered Prudential Financial, Inc., (NYSE:PRU). Pramerica, which will serve as the subadvisor of the Fund, is one of the largest real estate investors in the world with gross assets under management of USD $61.5 billion1
The new Fund will invest exclusively in high yielding sharia'a-compliant real estate investment trusts and other real estate-related securities, sourced globally by the fully dedicated real estate securities team at Pramerica. Marc Halle, Head of Global Real Estate Securities will actively manage the Fund as part of his role as Chief Investment Officer and Senior Portfolio Manager for all global real estate securities funds and investments at Pramerica. The team at Pramerica has been investing in REITs since 2005, focusing exclusively on global public real estate securities and is recognized as a leader in the global real estate securities industry.
Eric Adler, Chief Executive Officer of Pramerica Real Estate Investors, said:
"We are very pleased to partner with QInvest to launch a sharia'a compliant real estate securities strategy that will combine the broad international experience and deep regional knowledge of QInvest with the depth and breadth of Pramerica's global real estate platform. We look forward to maintaining a strong, on-going relationship to serve this important investor base."
Marc Halle, Head of Global Real Estate Securities at Pramerica Real Estate Investors, added:
"We are excited to offer sharia'a-compliant investors access to our value-oriented investment approach, which is based on intensive top-down fundamental research and bottom-up security analysis by our global portfolio management team. This new fund leverages the substantial infrastructure of Pramerica's fully integrated global real estate organization, which has been investing in direct real estate since 1970, and the deep local knowledge and investment expertise that we have been deploying to manage REIT portfolios and funds at Pramerica for the last decade."
Tamim Hamad Al Kawari, Chief Executive Officer of QInvest said:
"QInvest has focused on expanding the capabilities of QInvest Asset Management, particularly the QInvest Managed Account Platform (QMAP), our pioneering open architecture sharia'a- compliant fund platform. The addition of this Fund further broadens the product offering available to our investors, with the addition of a new high quality asset class with attractive yields and for which there is an active demand."
Dr Ataf Ahmed, Managing Director and Head of Asset Management at QInvest, added:
"We are very pleased to offer investors access to a Fund which aims to provide both an above average distributable income yield, relative to other funds of its type, as well as an opportunity for strong capital appreciation. The launch means that investors could benefit from a better entry point in the near term, following the recent sell-off in global markets."
The new Fund will be hosted on QMAP, QInvest's award-winning sharia'a managed account platform. QMAP is the world's first open architecture sharia'a-compliant managed account platform, bringing best in class capability from the conventional fund industry to sharia'a investors through a range of global partnerships. It provides investors with the opportunity to select from a range of high-quality Sukuk and equity funds that are managed by both in-house and top-tier third party teams.
Pramerica Real Estate Investors
John Chartier - Global Communications
Tel: +1 973-802-9829
Bassel Hanbali - Head of Marketing, Corporate Communications & Investor Relations
About Pramerica Real Estate Investors
Pramerica Real Estate Investors is the global real estate investment business of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, Pramerica has real estate professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $61.5 billion ($45.7 billion net) as of June 30, 2015. Pramerica's tenured team offers to its global client base a broad range of real estate investment vehicles that span the risk-return spectrum across core, core plus, value-add, debt, securities, and specialized investment strategies. For more information, visit www.pramericarei.com.
The company is not affiliated in any manner with Prudential plc.
QInvest is Qatar's leading investment bank with operations across the Middle East, Africa and Europe, and one of the most prominent Islamic financial institutions in the world. QInvest has built world class investment and advisory capabilities, with the highest standards of governance and transparency underpinning its client-focused approach. The firm's priority is to deliver high-value propositions, considered solutions and tangible results for its clients and shareholders.
The firm has offices in Doha, Riyadh and Istanbul, as well as affiliates in India and the UK. Its team of investment professionals is the largest in the MENA region and provides a blend of broad international experience, deep regional knowledge and unparalleled relationships in Qatar. This reach and range of skills uniquely position the firm to facilitate the flow of business between Qatar, the region and global markets, making it a key institution in Qatar's international investment plans.
QInvest's three business divisions are Asset Management, Investment Banking and Principal Investments. It has unrivalled expertise in structuring Islamic products and provides clients with sharia'a- compliant solutions quickly and competitively.
QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. QInvest's shareholders include Qatar Islamic Bank, other institutional investors, as well as high-net-worth individuals. The firm has authorized capital of US$ 1 billion and paid up capital of US$ 750 million.
For further information, please visit www.qinvest.com
1 As of June 30, 2015
© Press Release 2015