Istithmar World opens second office in New York

Istithmar World, the investment arm of Dubai World, has opened its second international office in New York City.

The move highlights the company's global approach to investment and its growing focus on exceptional opportunities worldwide, said a statement.

New York will serve as the third major base for Istithmar World after Dubai and Shanghai, China. Istithmar World, which already has an active asset portfolio in the US, will continue to target attractive investment opportunities with a vision to establish itself as the premier global investment firm from the Gulf region.

Commenting on Istithmar World's rapidly growing global footprint, Sultan Bin Sulayem, Chairman, Dubai World, said: "Opening an office in New York is a natural evolution of our growing presence in the Americas and demonstrates our commitment and enthusiasm for the region. We already have a solid asset base in the US and Canada, and through Istithmar World's corporate presence in a dynamic city like New York, we look forward to expanding our portfolio further."

David Jackson, Chief Executive Officer of Istithmar World Capital, said: "The current global market conditions have opened up many windows of opportunity for us. We believe that a permanent presence in the region will provide us better insight into potential investment opportunities in the Americas while enabling us to add greater value to our portfolio companies here in the US, Canada and in the future, elsewhere in the Americas.

The New York office has been designed by US-based interior designer Nate Berkus, and interior architect Ahmad Sardar Afkhami, who have drawn strong influence from traditional Islamic architectural design elements in creating the office interiors.

The investment team at the New York office will be headed by Felix Herlihy, Chief Investment Officer, and John Amato, Chief Investment Officer of Istithmar World.

Herlihy and Amato have been serving in their respective positions at Istithmar World Capital since 2006.

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