The new Collective Investment Funds Regime, enacted in the DIFC in July 2010, established a new, stream-lined regulatory process similar to regulatory regimes in the US and elsewhere that exempt certain investment funds from government registration if they cater exclusively to sophisticated investors and are subject to certain disclosure and marketing restrictions.
With this new regime (Category 3 License), Carlyle’s investment team in Dubai, outside of the DIFC, will be able to establish and advise investment funds domiciled in the Centre.
As a result, Carlyle has established Carlyle MENA Investment Advisors, an investment vehicle that will partner with its existing regional fund Carlyle MENA Partners. This new vehicle will not raise additional investment capital.
Under its former regulatory structure (Category 4 License), Carlyle’s investment team in Dubai was only authorized to provide advisory services to an investment fund domiciled outside of Dubai.
DIFC deputy CEO and head of business development Marwan Lutfi said by using the DIFC as the platform from which to base its funds, Carlyle is demonstrating that the DIFC is a prime location for both foreign and domestic fund managers.
