International law firm Taylor Wessing has advised The Carlyle Group on establishment of Carlyle MENA Investment Advisors Limited and related investment vehicles that will partner with Carlyle’s existing regional fund Carlyle MENA Partners, L.P.
This is the first investment structure to be established in the Dubai International Financial Centre (“DIFC”) under the DIFC’s new Collective Investment Law enacted in July 2010. Under this new structure, Carlyle’s MENA investment team will be able to establish and manage investment funds domiciled in the DIFC as well as in other recognised jurisdictions.
Taylor Wessing’s team was led by partner Hasan Rizvi and included client partner Osama Hassan and associate Adela Solomon, all based in Dubai.
Walid Musallam, Managing Director and Head of Carlyle’s MENA team, said:
“The new Collective Investment Law is a testament to the DIFC being a domicile of choice for private equity firms, and we are pleased to be the first such firm to benefit from the law. The DIFC’s stature and importance as a financial hub is growing. We see great investment promise throughout the MENA region and look forward to building upon the many valued relationships we have developed.”
Osama Hassan said:
“We are delighted to assist The Carlyle Group’s MENA team with expansion of their presence in this region and also to have had the opportunity to work closely with the DIFC authorities on implementation of the new Collective Investment Funds Regime and regulatory process. This work highlights our capability to deliver in-depth specialist and locally based expertise to our clients in key areas such as private equity and investment funds.”
Taylor Wessing has one of the largest private equity teams globally with dedicated partners in major jurisdictions in the Middle East and Europe. The group is widely recognised for its expertise in the premier mid-market segment and on international leveraged buy-outs and fund formations, and has gained extensive experience acting for institutions, fund managers, investors, debt providers and management teams.
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