The UAE Chapter of the Young Arab Leaders and Daman Investments PSC have formed a joint venture (“Alf Yad Limited” or the “General Partner”) to develop the Alf Yad series of funds, a Cayman Islands registered limited partnership (the “Alf Yad Funds” or the “Funds”). The Funds will be raised over ten years in tranches of AED 100 million per year. By 2015, a total of AED 1 billion is intended to be under the management of Alf Yad Limited, deployed across the Arab World.

The funds are being launched with the aim to invest in privately held businesses throughout the Arab World and beyond that demonstrate the potential for rapid sustainable growth. The funds will typically invest in businesses which are able to demonstrate a proven company track record, management track record, industry potential and an attractive macroeconomic environment. The objectives are to provide privately held firms with the capital and management support needed to realize value through operational efficiencies, expansion, governance and consolidation.

The Investment Manager of the Fund is Daman Investments PSC. The Investment Manager will be responsible for the asset management and management advice of the Funds and generally for the activities of the Funds that require to be carried on by a regulated entity.

Alf Yad literally means “one thousand hands” in Arabic. The premise behind the name is that over the course of ten years, Alf Yad’s 1000 investors will have directly contributed towards the Arab Economy and shall constitute the “one thousand hands” that will invest capital and enable privately held businesses to flourish.

The first of these Funds is the Alf Yad Fund I Limited Partnership, which is currently open for subscriptions.