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Eversheds Sutherland has advised Investment House Q.P.S.C. (“IH”), one of the leading investment banks and asset managers in Qatar

  • Qatar
  • Corporate - Deal alert
  • Financial services and markets regulation

07-05-2020

Eversheds Sutherland has advised Investment House Q.P.S.C. (“IH”), one of the leading investment banks and asset managers in Qatar, in connection with the first private fund in the country to invest in the alternative asset class of commercial shipping. Samer Sarkis (Principal Associate) and Rhydian Wyn (Associate) of our Doha office advised on the initial fund formation, drafted the offering documents, advised on the capital raising process and Qatari regulatory matters, and led on the acquisition of the cargo vessels. We also continue to advise IH in its capacity as the fund manager. Five vessels have been acquired to date for an aggregate value of over USD 60million. The presence of this new fund has been much welcomed by high net worth investors in Qatar who have been seeking alternative assets classes as traditional asset classes have lost some of their appeal. The Doha team was supported by UK Partner Ben Watford during the fund formation phase and co-ordinated advice from Maples and Calder in respect of Cayman law and Hill Dickinson (Greece) in respect of technical shipping issues.

Eversheds Sutherland has also advised Investment House Q.P.S.C. (“IH”), on the establishment of a QAR 500million closed-ended opportunistic fund licensed by the Qatar Central Bank. This is the first fund of its type in Qatar, giving investors an exposure to a broad range of assets from equities and fixed income to real estate, infrastructure and financial instruments, all in a Shariah compliant manner. Our Doha team of Samer Sarkis (Principal Associate), Rhydian Wyn (Associate) and Karim Kobaissy (Associate) drafted the full suite of offering and subscription documents, and guided the client through the regulatory process.

“We are delighted to see such positive deal activity during this period in time. We look forward to continuing to work with Investment House Q.P.S.C. on future transactions.” stated Managing Partner, Dani Kabbani.

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