The collaboration will capture the growing demand for Shariah-compliant financial products and solutions, both in the region and beyond. Research by Thomson Reuters has previously estimated that the growth in Islamic funds globally is set to nearly triple from a total value of US$110 billion in 2017 to US$325 billion by 2023 as part of the continued growth in Shariah-compliant financial assets overall and the GCC is set to play a key role in driving this growth. Tapping into these attractive growth dynamics, the tie-up between ADCorp and Sands Capital will enable ADCorp’s clients to benefit from Sands Capital’s world-class capabilities in investment management and long legacy of outstanding performance.
Commenting on the partnership, Mohammed Al Khaja, CEO of ADCorp, said: “We are excited to announce this latest step in ADCorp’s plans to offer innovative Shariah-compliant financial products. This new partnership brings together ADCorp’s unparalleled access to the growing Islamic asset management market from our base in ADGM with Sands Capital’s track record of delivering enviable returns. Together, we will be able to build on our combined capabilities to provide products and portfolios which bridge the increasing demand for Shariah-compliant products from east to west.”
Frank Sands, CIO and CEO of Sands Capital, commented: “We are delighted to partner with ADCorp on Shariah-compliant strategies, and to complement ADCorp’s strong brand and regional presence with our investment research focus on leading growth businesses.”
The partnership is the latest development in ADCorp’s ongoing ambitious growth plans. Having been established in 2017 with the backing of a number of prominent investment firms including ADFG, GFH, Capital Investments and SHUAA Capital, ADCorp is seeking to provide innovative and profitable Shariah-compliant financial solutions to its clients. As the first Islamic financial institution to launch within ADGM, ADCorp is well placed to take advantage of ADGM’s positioning as an attractive financial hub, and particularly its growing status at the heart of the Islamic financial industry.
About ADCorp Ltd (“ADCorp”)
ADCorp is a Category 5 Islamic Financial Institution with a paid-up capital of US$101 million and the first Islamic Institution to be licensed in the Abu Dhabi Global Markets. ADCorp offers innovative Shariah-compliant financial solutions and focuses on assessing, understanding and meeting the needs of companies that are seeking growth capital for the development of their businesses.
ADCorp provides companies and investors with access to professionally managed investments characterized by a high standard of investment underwriting, active portfolio management, and transparent reporting while maximizing risk-adjusted returns.
For further information on ADCorp, visit www.adcorp.com.
About Sands Capital Management LLC (“Sands Capital”)
Sands Capital is an active, long-term investor in leading growth businesses globally. The firm’s approach combines rigorous fundamental analysis with inspired thinking to identify innovative, high-quality businesses that are creating the future. Through strategies designed to concentrate investment in these businesses, the firm serves the long-term growth objectives of institutions and fund sponsors in more than 40 countries. An independent, staff-owned firm based in the Greater Washington, DC area, Sands Capital managed US$40 billion in client assets as of May 31, 2019.www.sandscapital.com
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© Press Release 2019