KBW Investments (KBW), established by Chairman HRH Prince Khaled bin Alwaleed bin Talal, announces the launch of Crestmount Capital (Crestmount), dedicated exclusively to the Islamic finance sector. In tandem with the founding of the Crestmount the company today confirmed that Crestmount Fund I, a fully Sharia-compliant real estate investment fund (REIF), has attained the full commitment of AED267 million.
Crestmount Fund I, with plans to immediately deploy the raised amount into five separate Australian Sharia-compliant projects at a local market value of $100 million (AUD), privately circulated the opening investment opportunity under the guidance of Amanie Advisors. The projects targeted for the capital, at varying stages of progress, are residential developments conceptualized and developed by the largest Sharia compliant developer in Australia, PietyTHP Developments.
“Crestmount Capital is KBW’s flagship entry into the Islamic finance segment. Having explored a variety of investment vehicles and types, the company’s interest has now increasingly turned to activating our existing strengths in finance to work for the advantage of the sophisticated Islamic investor,” said Prince Khaled. “The equitable structure of Islamic financial instruments, when paired with viable and solid target investees, is a wholly appealing value proposition. We’re pleased with the bullish reception we have received with Crestmount Fund I, and we’re looking to expand upon this early success with consistent milestones,” he continued, adding that investor comfort was secured based on both KBW’s commercial reputability, and by opening with a prime investment portfolio opportunity that boasts an advantageous risk profile.
“When deciding on the offering of Crestmount Fund I, the key was to present an attractive opportunity within Sharia-compliant specifications that would allow investors to see a promising return,” explained KBW Investments Chief Financial Officer, Shimmy Mathew. “Crestmount’s initial activity of AED267 million, $100 million Australian dollars, through our premier fund has a higher risk-adjusted return as the projects are already under development, thereby ensuring that we’ve presented an agile and secure offering to fund subscribers,” he continued.