Dubai International Capital appoints David Smoot as CEO, Private Equity
Eric Kump, formerly Merrill Lynch European Private Equity to lead DIC Europe from London
Dubai: 5th February 2009 – Dubai International Capital LLC (‘DIC’), the international investment arm of Dubai Holding, today announces that it has appointed David Smoot as Chief Executive Officer, Private Equity. David joined DIC in July 2008 and is based in Dubai.
Sameer Al Ansari, Executive Chairman and Chief Executive Officer, Dubai International Capital said,
David has an outstanding track record in the private equity field and exceptional relationships in the industry. Most importantly, his extensive hands-on experience of managing assets in difficult economic conditions leaves me in no doubt that he is ideally positioned to lead the DIC Private Equity division and DIC’s portfolio companies through the current downturn and identify the opportunities that will emerge as asset prices continue to fall. He is strongly endorsed as a friend and partner amongst DIC’s senior management as well as the management of portfolio companies. David and Eric Kump form a strong partnership that will continue to create value in the downturn.
David, aged 39, has a fourteen year track record in investment banking and private equity, of which 11 years were spent with Morgan Stanley in New York, where he co-founded the Private Equity division. David will join the boards of DIC portfolio companies along with Eric Kump, who joined DIC last year as a Managing Director.
Eric, aged 38, joined DIC after 16 years with Merrill Lynch &Co, of which thirteen years were with the Merrill Lynch Global Private Equity group. Eric has spent the last ten years in London with a focus on European LBO’s across multiple sectors and geographies. Eric is based in London and will head the DIC European PE team.
Sylvain Denis and Alan Hyslop will be leaving DIC with immediate effect to pursue other interests.
Sameer Al Ansari added,
I would like to thank Sylvain and Alan for their important contribution in developing and building a strong and diversified PE business. It has been real pleasure to work with them over the years and wish them every success in the future.
Notes to Editors
About Dubai International Capital LLC:
Dubai International Capital LLC is an international investment company established in 2004 as a wholly owned subsidiary of Dubai Holding. DIC invests private funds on behalf of Dubai Holding and several large third party investors around the world with a mandate to build a portfolio of internationally diversified assets. DIC invests via three core divisions Private Equity, Public Equity and Emerging Markets.
DIC Private Equity invests in high performing mid-cap companies in Europe and North America with a focus on secondary buyouts that include Travelodge, Merlin Entertainments, Doncasters, FastenTech, Mauser, Alliance Medical, and Almatis. DIC Public Equities takes significant stakes in Fortune 500 companies through the Global Strategic Equities Fund a $1.5 billion fund regulated by the Dubai Financial Services Authority. The fund has invested in global leaders such as Sony, EADS, and HSBC with an investment horizon of 3 -5 years.
DIC Emerging Markets invests in buyouts, buy-ins, listed equities, single-country funds and sector specific funds with a geographical focus in the Middle East and India. Notable investments include the UAE-based Rivoli Group; Singapore-based True Group; UAE-based KEF Holdings, Oger Telecom and Indian bank ICICI. Jordan Dubai Capital is a US$300 million fund investing exclusively in Jordan and DIC is replicated its success with a second country fund to invest in the Kingdom of Saudi Arabia: Saudi Dubai Capital. Sector-specific funds include the US$300 million MENA Infrastructure Fund and Ishraq, a US$150 million vehicle to launch Holiday Inn Express hotels across the Middle East. Alykhan Nathoo was recently appointed as CEO of DIC EM based in Dubai having joined from Bain Capital in London.
For further information please contact:
Dubai International Capital LLC
Mark Lunn
Direct : +971 4 362 1840 / Mobile +971 50 1566 737
Email: mark.lunn@dubaiic.com
Brunswick for Dubai International Capital LLC
Alex Blake-Milton / Azadeh Varzi (UAE)
Tel: +9714 365 8260
Email: ablakemilton@brunswickgroup.com / avarzi@brunswickgroup.com
Gill Ackers / Fiona Mulcahy (Europe)
Tel: +44 207 404 5959
Email: fmulcahy@brunswickgroup.com / gackers@brunswickgroup.com