Rasmala Global Sukuk Fund Named Winner of Two 2026 LSEG Lipper Fund Awards for Best Fund over 10 Years

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Independent recognition of a decade of consistent, risk-adjusted performance

The Rasmala Global Sukuk Fund was recognised with the 2026 LSEG Lipper Fund Awards for Best Fund over 10 Years in the Bond Sukuk Global USD classification, winning across two award universes: Global Islamic and MENA Markets.

The LSEG Lipper Fund Awards have, for more than three decades, recognised funds that have delivered consistently strong risk-adjusted performance relative to their peers. Winners are determined using LSEG Lipper’s independent, proprietary quantitative methodology, based on the Lipper Leader rating for Consistent Return over three-, five-, and ten-year periods.

The Rasmala Global Sukuk Fund is a UCITS sub-fund of an open-ended, Luxembourg-incorporated umbrella investment company. One of the longest-running global sukuk funds of its kind, the Fund invests in a diversified portfolio of Shariah-compliant assets, comprising primarily investment-grade sovereign, government-related and corporate sukuk, without reference to any specific benchmark. The Fund is dynamically managed and targets both income and capital appreciation, with a monthly distribution of dividends, and has navigated multiple market cycles within a risk-managed framework.

The awards come at a period of heightened volatility for global fixed income. Fitch Ratings has noted that the sukuk market’s recovery in 2026 hinges on sustained regional stability, with issuance expected to remain below 2025 levels amid ongoing geopolitical uncertainty. ¹ Against this backdrop, an independent award recognising consistent, risk-adjusted performance over a full decade underscores the value of an actively managed, disciplined approach through changing market cycles.

“We’re proud to see the Rasmala Global Sukuk Fund recognised among the best over ten years. In a market that continues to test investors, an independent award for consistent, risk-adjusted performance over a full decade speaks to the strength of our active management and the trust our investors place in us. It reflects the disciplined, long-term approach that defines how we manage capital at Rasmala,” said Eric Swats, Senior Executive Officer, Rasmala Investment Bank Limited.

About Rasmala Investment Bank Limited

Rasmala Investment Bank Limited (“Rasmala”) is an independent alternative investment manager serving Gulf-based investors including pension funds, family offices, corporates, endowments, and financial institutions. The firm is located in the DIFC, Dubai, UAE, and regulated by the Dubai Financial Services Authority (DFSA). It is a wholly owned subsidiary of Rasmala Investment Holdings (DIFC) Limited (“Rasmala Holdings”). For more information, visit www.rasmala.com.

¹ Market context sourced from publicly available third-party commentary: Fitch Ratings, “Global Sukuk Issuance Recovery Hinges on Regional Stability” (Non-Rating Action Commentary), 8 July 2026, fitchratings.com/research/non-bank-financial-institutions/global-sukuk-issuance-recovery-hinges-on-regional-stability-08-07-2026. Provided for context only.

Important information/disclaimer

For Professional Client only. This document constitutes a financial promotion and is directed only at persons who meet the DFSA’s definition of a Professional Client and must not be relied upon by any other person. It does not constitute an offer, solicitation or investment advice. Past or projected performance is not necessarily a reliable indicator of future results; the value of investments can fall as well as rise, and investors may not recover the full amount invested. RIBL is authorised by the DFSA to operate an Islamic Window and has appointed a Sharia Supervisory Board that reviews and approves its Islamic Finance products. The LSEG Lipper Fund Awards is awarded by LSEG Lipper based on its independent quantitative methodology; details are available at lipperfundawards.com. Prospective investors should read the Fund’s prospectus and KIID/PRIIPs-KID and seek independent advice before investing. The awards referred to herein should not be construed as a recommendation to purchase or invest in the Fund and does not guarantee future performance. Nothing in this communication excludes or limits any duty or liability owed by Rasmala Investment Bank Limited under applicable DIFC laws or the DFSA Rulebook.

Rasmala Announces $500 Million Poseidon Fund Exit

Poseidon Fund

Poseidon Fund delivers over 8x return to participating shareholders

Rasmala Investment Holdings (DIFC) Limited (“Rasmala” or “Rasmala Holdings”), an independent, alternative investment group, announced that Poseidon Fund (CEIC) Limited (“Poseidon Fund”), managed by its subsidiary Rasmala Investment Bank Limited (RIBL”), and regulated by the DFSA, has delivered a return of over 8x to its participating shareholders through an in-kind distribution, marking one of the group’s largest and most significant transactions in the last 24 months.

Poseidon Fund is a DIFC-based investment fund that was established to increase DFM-listed Gulf Navigation Holding PJSC’s (“GulfNav”) capital base and support its strategic growth initiatives. RIBL structured and managed GulfNav’s USD 59.9 million (AED 220 million) issuance of Mandatory Convertible Bonds (MCBs), which was then converted into 200 million ordinary shares of GulfNav at a price of AED 1.10 per share, turning Poseidon Fund into GulfNav’s largest shareholder.

The Fund’s investors included leading UAE-based family offices, high-net-worth individuals, and financial institutions. The exit coincides with GulfNav’s planned USD 871 million (AED 3.2 billion) acquisition of Brooge Energy Limited (“Brooge”).

Ali Taqi, CFA, Deputy CEO of Rasmala Investment Bank Limited, said:

“We are extremely pleased with the investor returns and successful transfer of shares, and I highly appreciate my team’s dedication in delivering this accomplished exit. The transaction showcases our expertise in structuring sophisticated deals and delivering bespoke investment solutions that support our clients’ growth ambitions. We see significant opportunity in extending growth capital to GCC-based companies and leveraging our deep understanding of both private and public markets to help them achieve their next stage of development.

GulfNav’s acquisition of Brooge remains on track for completion, following the signing of the Sale and Purchase Agreement in May and the successful $136 million MCB issuance in July. The transaction is expected to be settled through cash, new shares, and mandatory convertible bonds, with Brooge having delisted from Nasdaq as part of the process.

Rasmala Holdings

Rasmala Holdings is the parent company of RIBL, an independent alternative investment manager serving Gulf-based investors, including family offices, corporates, insurance companies, banks, and other financial institutions. RIBL is regulated by the DFSA.

Rasmala delivers robotics-enabled logistics facility in Netherlands

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Distribution centre pre-leased for 15 years to a global outdoor fashion brand

 

Dubai, UAERasmala Investment Bank Limited (“Rasmala”), one of the leading Dubai-based alternative investment managers, announces the successful completion of its ground-up investment in a cutting-edge logistics facility in Almelo, Netherlands.

Built over 15 months, the project delivers a large, robotics-enabled distribution centre, built-to-suit, for a global outdoor fashion brand. This is Rasmala’s third investment in the Netherlands, expanding Rasmala’s European logistics portfolio with a de-risked, income-generating asset. The project demonstrates Rasmala’s capabilities to actively create value in cross-border investments.

“Delivering bespoke structures that help our clients achieve their investment objectives has been a key guiding principle of Rasmala for 25 years. This is a high-quality asset that benefits from a long-term, inflation-protected lease with a reputable tenant, offering a stable return, coupled with capital preservation,” said Ali Taqi, Rasmala’s Deputy CEO.

Project Highlights:

  • Asset Value: €38M+ prime logistics facility
  • Size: 312,000 sq. ft. with 25m height
  • Lease: 15-year term for a NYSE-listed global tenant, CPI-indexed rent
  • Location: XL Business Park, Almelo, a key European logistics corridor

The facility comprises a warehouse, an office, and a mezzanine area, with a total of 118 parking spaces. With advanced automation capabilities, the building achieved BREEAM Very Good certification and serves as a strategic EMEA distribution hub for its global tenant. The property is beside another Rasmala-managed warehouse leased to the same tenant.

Rasmala co-developed the site with GARBE Industrial Real Estate Netherlands from project inception, alongside the main contractor, Systabo. The team successfully navigated the complex cross-border structuring, regulatory, and development risks, actively managing the development process to ensure the timely delivery of a tailor-made facility that meets the sophisticated requirements of modern logistics.

The successful completion reinforces Rasmala’s unique capability among regional asset managers in originating and developing greenfield real estate investments in some of the most desirable European investment destinations.

About Rasmala: Operating from Dubai with global reach, Rasmala is an independent provider and manager of alternative investment products, serving Gulf-based investors, including pension funds, family offices, corporates, endowments, and financial institutions. Rasmala Investment Bank Limited is a wholly owned subsidiary of Rasmala Investment Holdings Limited. It is based in the Dubai International Financial Centre (“DIFC”) and regulated by the Dubai Financial Services Authority (“DFSA”).  

Media Contact

Tim Hydari

Senior Executive, Branding and Investor Communications

+971 56 406 6180

tim.hydari@rasmala.com

Rasmala Commitments to Real Estate and Private Equity Funds Cross USD 500 Million in 2025

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Leading regional investment manager aims to capitalise on opportunities in alternatives markets

 

28 May 2025, Dubai, UAE – Rasmala Investment Bank Limited (“Rasmala”) continues its successful start to the year by increasing its clients’ commitments to international real estate and private equity funds, now exceeding USD 500 million. This allocation targets opportunities in private markets, primarily in the USA, with additional allocations to Europe and the MENA region.

Answering the demand of regional investors to diversify sources of income and capital growth, Rasmala has positioned itself as a leading gateway for international investments in partnership with top-tier investment managers. “This outsized increase of capital commitments to international private markets demonstrates investor confidence in our execution capabilities outside of our home market,” said Ali Taqi, CFA, newly appointed Deputy CEO of Rasmala. “In an increasingly challenging regulatory environment, effectively deploying capital across borders has become as important as selecting the right investment strategies.”

Whilst most commitments were made to open-ended and closed-ended real estate funds, allocation to private equity funds was also significant, demonstrating investor appetite to deploy capital in strategies that can generate superior returns over extended investment horizons.

Capital commitments were executed through a Rasmala Shariah feeder solution, which allows Shariah-compliant investors to deploy capital in international markets and access institutional-quality investment strategies while complementing the firm’s in-house investment management capabilities.

– END –

About Rasmala: Rasmala is an independent provider and manager of alternative and Shariah-compliant investment products serving Gulf-based investors, including pension funds, family offices, corporates, endowments, and financial institutions.

Rasmala Investment Bank Limited is a wholly owned subsidiary of Rasmala Investment Holdings (DIFC) Limited, based in the Dubai International Financial Centre (“DIFC”). It is regulated by the Dubai Financial Services Authority (“DFSA”). Rasmala products or services are only made available to customers who Rasmala is satisfied meet the regulatory criteria to be a ”Professional Client” or “Market Counterparty”, as defined by the DFSA.

Rasmala Marks 25 Years With Sustainability Commitment, Planting 500 Mangroves In UAE For World Wildlife Day

Rasmala Marks 25 Years With Sustainability Commitment, Planting 500 Mangroves In UAE For World Wildlife Day
Rasmala Marks 25 Years With Sustainability Commitment, Planting 500 Mangroves In UAE For World Wildlife Day
Rasmala Marks 25 Years With Sustainability Commitment, Planting 500 Mangroves In UAE For World Wildlife Day

On the occasion of World Wildlife Day and in celebration of its 25-year anniversary, Rasmala reaffirms its commitment to sustainability and environmental conservation in the UAE. Through a partnership with Goumbook’s Trees Matter campaign in line with the UAE’s Ministry of Climate Change and EnvironmentNational Carbon Sequestration Program, Rasmala is planting 500 mangrove trees, honouring its 25-year journey while actively supporting the UAE’s national pledge to plant 100 million mangroves by 2030.

Mangroves: A Natural Solution to Climate Change

Mangrove forests are among the most vital ecosystems on the planet, playing a key role in climate resilience and environmental conservation:

  • Carbon Storage: Mangroves absorb 3-4 times more carbon than tropical rainforests, making them a key tool for climate mitigation.
  • Marine Biodiversity: They are home to 80% of fish populations, sustaining local fisheries.
  • Coastal Protection: Mangroves are natural shields against storms, rising sea levels, and erosion.
  • Water Filtration: Mangroves naturally filter pollutants, improving marine ecosystems.

A Legacy That Grows

“This initiative reflects our commitment to sustainability in the UAE, both in its financial ecosystem and natural environment. Each tree, which we are planting on behalf of our employees, clients, and partners, symbolises the lasting impact we aim to create in the communities we serve,” said Zak Hydari, Group CEO, Rasmala Holdings.

By aligning this initiative with World Wildlife Day, Rasmala aims to raise awareness of the critical role that mangroves play in global conservation efforts. Rasmala’s actions on World Wildlife Day reflect not just a one-day initiative but a long-term commitment to environmental sustainability, contributing to global conservation efforts aligned with the UAE’s ambitious sustainability goals.

“At Goumbook, we believe every tree planted is a step toward a more resilient and biodiverse future. Rasmala’s commitment to mangrove restoration is a testament to the power of corporate responsibility in tackling climate change and protecting our natural ecosystems. Through our Trees Matter campaign, we proudly support this impactful pledge, ensuring these mangroves thrive and contribute to the UAE’s vision of planting 100 million mangroves by 2030. By incorporating tree planting into their business milestones, Rasmala demonstrates how sustainability can be seamlessly integrated into corporate growth and impact,” said Tatiana Antonelli Abella, Founder and Managing Director of Goumbook.

To further its commitment, the bank will plant 25 mangrove trees for every successful deal closed in 2025—embedding environmental responsibility into its investment strategy and reinforcing a sustainable approach to growth.

Rasmala Deploys USD 300M in High-Growth Sectors as Interest Rates Ease

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Building on 25 years of expertise, Rasmala continues to drive innovation and value for regional investors

6 February 2025, Dubai, UAE – Rasmala Investment Bank Limited (“Rasmala”), a leading provider of Shariah-compliant alternative investments, has entered 2025 with strong momentum, deploying nearly USD 300 million across global infrastructure, technology-driven private equity and real estate, focusing on logistics and net lease assets in Europe and the United States.

With the growing demand for investor capital from the GCC, Rasmala connects the region with strategic, high-quality global opportunities, reinforcing the UAE’s position as a leading financial hub. This is reflected by Rasmala’s 25-year track record of identifying income-generating assets aligned with macroeconomic trends and regional investor priorities.

“As interest rates ease and inflation remains a key consideration, Rasmala is leveraging its extensive partner network and deep market expertise to capitalise on investment opportunities for Gulf-based investors, deploying capital across strategic global sectors,” said Zak Hydari, Rasmala Group CEO. “A strong start to 2025 reaffirms our commitment to delivering innovative, Shariah-compliant investment solutions that combine resilience with growth. We continue to focus on high-quality real assets that provide stable, inflation-protected income and long-term value creation amid evolving global market conditions.”

Real estate, particularly logistics, net lease assets, and UK residential, remains a key focus area for Rasmala, offering stable, long-term cash flows backed by high-credit tenants and strong market fundamentals, including e-commerce growth and supply chain demand. In parallel, Rasmala continues to expand its presence in infrastructure and technology-driven private equity, targeting sectors that benefit from digitalisation, energy transition, and demographic shifts.

As Rasmala marks 25 years of investment excellence, the firm remains dedicated to unlocking value for investors through disciplined strategies, beneficial partnerships, and financial solutions with foresight. Due to a robust investment pipeline for 2025, Rasmala is well-positioned to capitalise on shifting market conditions and drive long-term growth in Shariah-compliant alternative investments, aligned with the UAE’s vision for economic diversification and sustainable financial sector growth.

 

Media Contact
For more information, please contact:
Tim Hydari
Senior Executive, Branding and Investor Communications
+971 56 406 6180
tim.hydari@rasmala.com

 

About the Rasmala Group

Rasmala is an independent provider and manager of alternative and Shariah-compliant investment products, serving Gulf-based investors, including pension funds, family offices, corporates, endowments, and financial institutions.

Rasmala Investment Bank Limited is a wholly owned subsidiary of Rasmala Investment Holdings Limited, based in the Dubai International Financial Centre. It is regulated by the Dubai Financial Services Authority.

Rasmala Expands UK Real Estate Portfolio Through Strategic Acquisitions

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Strategic Investments Reinforce Rasmala’s Focus on Inflation-Linked, Long-Term Income Assets

 

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24 October 2024: Rasmala, a leading alternative investment firm, announced the successful investments of three major assets in the UK. The acquisitions include the ASDA supermarket in Gillingham (Dorset), the Travelodge hotel in Kingston Upon Thames, and the Quora Retail Park in Doncaster, reinforcing its strategic focus on essential retail and long-income assets that can deliver stable, inflation-linked returns for investors.

  • The ASDA supermarket in Gillingham is an essential retail asset that integrates with the digital economy, offering ‘Click & Collect’ and ‘Home Delivery’ services to cater to the growing demand for convenient shopping experiences. This reflects Gulf investors’ increasing interest in stable, global assets that hedge against regional market fluctuations.
  • The Travelodge hotel in Kingston Upon Thames is leased on a long-term, inflation-linked agreement. The property also offers future potential for alternative uses, such as co-living or student accommodation, which enhances its long-term value.
  • Similarly, the Quora Retail Park in Doncaster, leased primarily to Aldi and B&M Retail, benefits from long-term, inflation-linked income, reflecting Rasmala’s combination of local expertise and global reach.

Rasmala’s acquisitions of these assets highlights its expertise in high-quality cross-border UK real estate investments, creating unique opportunities for investors in the Gulf to participate in high-yield investments. By securing these assets, Rasmala continues to build a diversified portfolio that delivers both income stability and growth potential.

“These strategic acquisitions are aligned with Rasmala’s long-term approach to investing in income-generating assets with the potential for significant long-term capital appreciation,” said Zak Hydari, Group CEO of Rasmala Holdings.

 

Contact

For more information, please contact:
Rasmala Media
+971 4 3635600
media@rasmala.com

 

About Rasmala

Rasmala is an independent provider and manager of alternative investment products, serving Gulf-based investors, including pension funds, family offices, corporates, endowments and financial institutions. 

Rasmala Investment Bank Limited is a wholly owned subsidiary of Rasmala Holdings, based in the Dubai International Financial Centre (“DIFC”). It is regulated by the Dubai Financial Services Authority (“DFSA”).For more information about Rasmala’s investment strategies and portfolio, visit www.Rasmala.com.

 


Important disclaimer

This note is prepared by Rasmala Investment Bank Limited (“RIBL”). RIBL is regulated by the Dubai Financial Services Authority (“DFSA”). RIBL products or services are only made available to customers who RIBL is satisfied meet the regulatory criteria to be a ” Professional Client”, as defined under the Rules and Regulations of the Dubai Financial Services Authority(“DFSA”).

Investment recommendations take into account both risk and expected return. We base our long-term fair value estimates on a fundamental analysis, after having taken perceived risks into consideration. We have conducted reasonable research to arrive at our investment recommendations and fair value estimates for a product mentioned in this presentation. Although the information in this presentation has been obtained from sources that RIBL believes to be reliable, we have not independently verified such information thus it may not be accurate or complete. RIBL does not represent or warrant, either expressly or impliedly, the accuracy or completeness of the information or opinions contained within this presentation and no liability whatsoever is accepted by RIBL or any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. Matters of past performance in this document should not be taken as an indication or guarantee of future performance and RIBL makes no representation or warranty, express, implied or otherwise, regarding future performance. The market value of any security and estimated income may be affected by changes in economic, financial, (including, but not limited to, spot and forward interest), and political factors time to maturity, market conditions, and volatility and the credit quality of any issuer or reference issuer. Readers should understand that financial projections, fair value estimates and statements regarding future prospects may not be realized. All opinions and estimates included in this presentation constitute our judgment as of this date and are subject to change without notice.

RIBL and its group entities (together and separately, “Rasmala”) does and may seek to do business in securities covered in its presentation. As a result, users should be aware that the firm may have a conflict of interest that could affect the objectivity of this presentation. Investors should consider this presentation as only a single factor in making their investment decision. Rasmala and its respective employees, directors and officers shall not be responsible or liable for any liabilities, damages, losses,claims, causes of action, or proceedings (including without limitation indirect, consequential, special, incidental, or punitive damages) arising out of or in connection with the use of this presentation or any errors or omissions in its content.

The research analyst or analysts responsible for the content of this presentation certify that: (1) the views expressed and attributed to the research analyst or analysts in the presentation accurately reflect their personal opinion(s) about the subject securities and issuers and/or other subject matter as appropriate; and, (2) no part of his or her compensation was, is or will be directly or indirectly related to the specific recommendations or views contained in this presentation. Certain information contained in this presentation constitutes “forward-looking statements”, which can be identified by the use of forward-looking terminology such as “projected” or “estimated” or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the Market may differ materially from those reflected or contemplated in such forward-looking statements.

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The information contained in this presentation neither constitutes a public offer of securities in the Sultanate of Oman as contemplated by the Commercial Companies Law of Oman (Sultani Decree 4/74) or the Capital Market Law of Oman (Sultani Decree 80/98), nor does it constitute an offer to sell, or the solicitation of any offer to buy, non-Omani securities in the Sultanate of Oman (as contemplated by Article 6 of the Executive Regulations to the Capital Market Law – issued pursuant to Ministerial Decision No.4/2001). Additionally, this presentation is not intended to lead to the conclusion of a contract of any nature whatsoever within the territory of the Sultanate of Oman.

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Rasmala Acquires London Apartment Block for Generation Living Solutions Fund

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Rasmala Acquires London Apartment Block for Generation Living Solutions Fund

Dubai, August 14, 2024: Rasmala Investment Bank Limited (Rasmala) is pleased to announce the acquisition of 116-118 Chancery Lane – the latest addition to its Generation Living Solutions (GLS) Fund portfolio which owns and operates apartment blocks in London.

This 14-apartment block is located in Westminster, next to the Royal Courts of Justice and King’s College (Maughan Library) in the heart of London’s legal district. This brand-new office conversion features a collection of one, two, and three-bedroom apartments managed as serviced apartments by Viridian Apartments (www.viridianapartments.com) offering an unparalleled blend of modern amenities to residents and guests.

Viridian Apartments, also owned by GLS, is central to the Fund’s strategy and commitment to deliver exceptional living spaces that cater to the tastes of residents and guests seeking comfort, convenience, and style.

Adnan Adil, Director – Investments, said: “This is a core asset in central London which we have acquired for GLS on a freehold basis. As we work towards our goal of raising and deploying USD 2 billion into UK residential property, we have a strong pipeline and remain busy evaluating new opportunities for the fund.”

This acquisition reflects Rasmala’s strategy to expand its footprint into London’s residential market and capitalize on attractive valuations given London’s strategic importance to Gulf-based investors and global capital allocators.

Adil added: “As our active asset management strategy and on-ground presence continues to gain traction with Gulf-based investors we have now started discussions with UK and US based institutional investors who are looking to deploy capital in the space.”

Contact
For more information, please contact:
Rasmala Media
+971 4 3635600
media@rasmala.com

Rasmala to recap £400m long income portfolio

IBIS

Rasmala to recap £400m long income portfolio

 

25 Jun 2024 16:15 BST | by Chris Borland

Vehicles managed by Middle Eastern group have assets in UK, Europe and US

News1

  • What Rasmala is exploring recap options for a £400m long income portfolio
  • Why Firm is returning capital to some early investors, with fund also exiting indirect real estate positions
  • What next Stabilised platform should appeal to institutional capital with long-term time horizons

Investment manager Rasmala Investment Bank is seeking new investors to partially recapitalise its £400m long income vehicles, Green Street News can reveal.
The Rasmala Long Income Fund, together with its sister European and North American funds, owns a portfolio with a gross asset value of around £400m across the UK, US and Europe.
The Middle Eastern asset manager has initiated a three-stage process, aimed at recapitalising the fund and returning some capital to the fund’s original loan providers while positioning the platform for the next stage of growth.

“The recapitalisation and rationalisation of the portfolio will position our long income fund for the next phase of growth”

The fund primarily focuses on single-tenant net lease assets, including commercial long lease properties and social and economic infrastructure. Around 80% of the funds’ assets are based in Europe, with 20%
in the US.
Rasmala’s primary goal is to recap its direct investment holdings, worth around £250m, with fresh capital from institutional investors, large family offices and private equity firms. It is in discussions over an adviser, although no formal appointment has yet been made.
The new investors would gain access to an institutional-grade portfolio that is invested in life sciences, supermarkets, retail parks, hotels and logistics. There is flexibility around the recap element that could lead to sub-fund structures being set up for the European or US properties.

News2

One of the standout UK properties is a Tesco superstore in Hattersley, near Manchester, which Rasmala bought from CBRE GI for £28.6m. It is let to Tesco until 2037. The UK portfolio also includes Aldi, Asda and B&M.
In Almelo – near Rotterdam, in the Netherlands – Rasmala is delivering a second modern logistics unit leased to Timberland Europe, to complement an adjacent unit acquired in 2019 and leased to the same tenant for a total investment of €90m. The property is currently built to suit the tenant’s specifications and has been leased for 15 years.

Rationalisation of platform

As part of the recap process, Rasmala plans to exit indirect investments in thirdparty funds and co-investment to focus on direct investments. This will allow the asset manager to manage redemption requests.
The recap plan also involves the repayment of asset-level debt, which is no longer accretive.
The Rasmala Long Income Fund, which was set up in 2018, is managed by Ruggiero Lomonaco. The fund initially raised $250m in 2019, and in the process seeded two regionally-focused single-tenant net lease vehicles: the Rasmala European Real Estate Income Fund, and the North American Real Estate Income Fund.

Ruggiero Lomonaco, fund manager of the Long Income Fund at Rasmala, said:

“The recapitalisation and rationalisation of the portfolio will position our Long Income Fund for the next phase of growth. We continue to believe in the attractiveness of single-tenant net lease assets as a source of alternative income, which can grow in line with inflation.”

 

https://greenstreetnews.com/article/rasmala-to-recap-400m-long-income-portfolio/

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