In October 2006, Dubai International Capital launched the Global Strategic Equities Fund LP (‘GSEF’) and commitments at first closing totalled US$1 billion. A final closing at a minimum of US$2 billion is planned for early 2008.

The GSEF aims to generate attractive target returns by building a concentrated portfolio of structured equity and equity-related investments representing substantial, strategic holdings in leading Fortune 500 businesses. GSEF has a global mandate and a management friendly orientation. The fund invests on a long-term horizon and makes substantial use of derivative products offering downside protection and embedding a significant degree of leverage features. Seeking out undervalued large capitalisation stocks, the GSEF team applies an extensive and fundamental investment selection process much akin to the private equity approach to investing.

Whilst Dubai International Capital is the cornerstone investor in GSEF, the fund has been able to garner substantial demand from other investors including government investment arms, ultra high net-worth individuals, key institutions in the UAE, Qatar and Saudi Arabia as well as bulge bracket investment banks.

GSEF is a closed-ended limited partnership denominated in US Dollars and NewDawn Global Strategic Equities Asset Management Limited, the General Partner for GSEF, is a Dubai International Financial Centre incorporated and Dubai Financial Services Authority regulated entity.