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Eversheds Sutherland advises on QInvest’s joint venture with Qatar Insurance Company, establishing a leading Islamic asset management business

  • Qatar

    14-10-2022

    Eversheds Sutherland has advised QInvest LLC, Qatar’s leading investment bank and one of the most prominent Islamic financing institutions in the region, and Qatar Insurance Company Q.S.P.C. (QIC) on their joint venture to establish Qatar-based Epicure Islamic Investment Management LLC.

    Epicure Islamic Investment Management LLC, jointly owned by QInvest (49%) and QIC (51% through Epicure Holdings LLC), is a Sharia’a compliant entity, authorised and regulated by Qatar Financial Centre Regulatory Authority. The new entity, which aims to create a Qatar-based national champion in the Islamic asset management space, will focus on providing a wide range of activities ranging from investing to developing and structuring innovative Islamic investment products.

    Eversheds Sutherland acted as lead counsel on the entire transaction lifecycle, from providing structuring and regulatory advice to drafting the entire suite of transaction documents and managing completion. The team was led by Partner, Samer Sarkis, supported by Rhydian Wyn (Senior Associate).

    Epicure Investment Management LLC (EIM), a wholly owned subsidiary of QIC and one of the largest regulated investment managers in Qatar manages over c. US$7bn of investments across asset classes for its clients and having an impeccable track record of investing, is looking to enhance its footprint in the Investment Management business. EIM will provide the necessary asset management expertise and capabilities to the joint venture entity. At the same time, QInvest will provide the necessary infrastructure and market reach to the joint venture entity, while capitalizing on its track record in developing and structuring innovative Islamic investment products, in addition to its ability to raise capital.

    Samer Sarkis, Eversheds Sutherland, said:It was a pleasure working with the QInvest and QIC teams on this noteworthy transaction which has created a leading Islamic asset management business. I am very proud that our team advised on all aspects of the transaction from start to finish, ensuring that our clients achieved their objectives.”

     

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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