Mubasher: Securities and Investment Company (SICO) said Tuesday that it has signed a strategic partnership with Trucial Investment Partners, a specialist asset management and advisory firm based in the Dubai International Finance Centre.
Under this partnership, which was signed by SICO Chief Executive, Najla Al Shirawi and Trucial managing Partner, Maissan Al Maskati, the two institutions will co-seed and co-manage the planned SICO Trucial US Real Estate Income Fund, which is due to be launched during the second quarter of 2017, according to a bourse statement.
“Following the successful IPO of Bahrain’s first real estate investment trust (REIT) with SICO acting as the REIT’s CoInvestment Manager, we are delighted to announce our partnership with Trucial Investment Partners on our maiden foray into the US real estate sector,” Al Shirawi said.
“This marks an important milestone in SICO’s strategic evolution, providing our clients with unique alternative investment opportunities, as well as adding new products through which we aim to diversify our revenue streams and enhance recurring income,” she added.
“We are excited about our partnership with SICO and look forward to working together. With the experience and track record of investing in the US real estate market, Trucial Investment Partners have designed a proven strategy focused on specific real estate and geographic segments within the United States, thereby allowing us to deliver superior yields and returns to our investors,” Al Maskati said.
“Through our North American platform, Trucial USA, we also offer a local capability to execute and support this strategy,” he added.
