Ithmaar Bank to put $630M to work locally

Bahrain-based Ithmaar Bank said it intended to set aside $630 million of its $2 billion Infrastructure and Growth Capital Fund for regional infrastructure investments, according to Middle East Company News. Ithmaar Bank and Deutsche Bank are the co-sponsors of the fund, which is managed by Abraaj Capital. The fund is earmarked for minority or majority stakes in Greenfield projects, growth capital investments, privatizations and buyouts in such fields as electric power, water, health care, education, oil and gas, petrochemicals, industrials and mining.