Dubai International Capital (DIC) said on Monday its private equity arm plans to make substantial acquisitions in India, adding to the $1 billion it has invested in the fast-growing economy. "We have big deals in the pipeline," DIC Chief Executive Officer Sameer al-Ansari told reporters in Dubai.
DIC, owned by Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai, aims to lift the value of assets it manages in India, China and Japan to $5 billion within two to three years, and to a similar amount in the Middle East and North Africa from $1.5 billion, Ansari said.