Istithmar World
| Istithmar | |
|---|---|
| legal form | Sovereign wealth fund |
| founding | 2003 |
| Seat |
Dubai 
|
| management | Sultan Ahmed Bin Sulayem ( Chairman of the Board ) Andrew John Watson ( CEO ) |
| Branch | Investments , equity stakes |
| Website | www.istithmarworld.com |
The Istithmar World (Arabic for investment is) an investment company based in Dubai , completely belongs to Dubai World and is considered private equity -arm of the State Fund of the United Arab Emirates .
The company was founded in 2003 under the name Istithmar , renamed Istithmar World in 2008 and has investments in various industries valued at several billion dollars worldwide. In addition to financial services, trade, industry and real estate, this also includes the acrobats of the Canadian Cirque du Soleil .
In 2008 the Queen Elizabeth 2 was acquired by Istithmar World for 100 million US dollars and should be converted into a luxury hotel after the purchase. Due to the financial crisis, however, these plans were discarded and the "QE2" was in the port of Dubai. In 2012, the investment fund announced a more modest expansion.
In the course of the reorganization of Dubai World, which had financial difficulties at the end of 2009, some of the parent company's investments were transferred to Isthitmar World, such as Dubai World Africa in particular, with investments mainly focused on tourism.
Andy Watson, the former Chief Investment Officer of Nakheel , has led the business since David Jackson left as CEO in early 2010 .
Web links
- The company's website (English)
- Company profile at Bloomberg Businessweek
Individual evidence
- ↑ The world is not enough: Dubai World in Pictures , accessed on June 8, 2011
- ↑ SPIEGEL ONLINE, Hamburg Germany: Disused steamer in Dubai: "Queen Elizabeth 2" will be a hotel ship. In: SPIEGEL ONLINE. Retrieved September 27, 2016 .