Arcapita

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Arcapita, Inc.
Holding company
Founded 1997[1]
Founder First Islamic Investment Bank (now Arcapita Bank)
Headquarters Manama, Bahrain
Number of locations
Atlanta, Bahrain, London, Singapore
Key people
Atif A. Abdulmalik, CEO
Hisham Al Raee, COO
Martin Tan, CIO
Mohammed Chowdhury, Gloval Head of FMG
US$285.7 million (Arcapita Bank)[2]
Number of employees
253 (Arcapita Bank)[2]
Parent Arcapita Bank

Arcapita originates alternative investments, which comply with Shari’ah principles, for its investors and shareholders. At the center of one of the fastest growing wealth markets in the world, Arcapita's management has been serving an exclusive group of investors in the GCC region and Southeast Asia for 17 years. With offices in Bahrain, Atlanta, London and Singapore, Arcapita’s management team has completed over 70 transactions with a total value of approximately $30 billion and possesses a footprint to invest on a global scale. The business is defined by the quality of its people - a management team with extensive experience gained in all market conditions and a group of professionals with deep expertise in their areas of focus.

Name change[edit]

On March 15, 2005, parent company First Islamic Investment Bank and its subsidiaries changed their name to Arcapita and adopted a new logo.[3] The name "Arcapita" is a combination of the words "arc" and "capital", "arc" symbolizing the company's global span, from Atlanta to London to Bahrain. The firm indicated that its name change did not relate to potential anti-Islam sentiments in the regions in which it was operating.[4]

The name change resulted in some controversy as to whether it was done to hide the company's Middle Eastern roots. According to the company, the unified name was introduced to avoid confusion about the relationships between the parent company, First Islamic Investment Bank, and its subsidiaries, Crescent Capital in the U.S. and Crescent Capital (Europe) Ltd., based in London. The company also wanted to reassure investors who were uneasy about the perceived religious association of the old name.[5]

Compliance with Sharia[edit]

Every investment made by Arcapita Bank and its subsidiary corporations is approved by a four-member Sharia advisory board. The board includes a retired judge from Saudi Arabia's Supreme Court, and religious scholars from Pakistan and Bahrain. In accordance with Islamic Sharia law, the company does not invest in any businesses which offer credit or charge interest, or sell pornography, alcohol, or pork products.[5]

According to representatives of the company, the Sharia advisory board does not make decisions about the financial merits of investments, and does not play a role in hiring or promotion of employees.[5]

Current[edit]

In January 2014, Arcapita sold its firm U.S.-based Varel International to Swedish engineering firm Sandvik for a total of $740 million.[6]

Subsidiaries[edit]

Arcapita's holdings include:[5]

Former investments[edit]

References[edit]

  1. ^ "Crescent Capital Announces Majority Investment in Cirrus Industries, Leading Airplane Manufacturer, in $143 Million Deal". Business Wire. August 22, 2001. Retrieved 2008-06-21. 
  2. ^ a b "Financial Information – Financial Highlights". Arcapita Bank. Archived from the original on 9 July 2008. Retrieved 2008-06-21. 
  3. ^ "Crescent Capital soon to be Arcapita". Atlanta Business Chronicle (American City Business Journals, Inc.). February 28, 2005. Retrieved 2008-06-21. 
  4. ^ Parker, Mushtak (28 February 2005). "First Islamic Changes Its Name". Arab News. Retrieved 2008-06-21. 
  5. ^ a b c d Paul, Peralte C.; Shelia M. Poole (July 30, 2006). "Branching out, with limits". Atlanta Journal Constitution. Archived from the original on 18 June 2008. Retrieved 2008-06-21. 
  6. ^ David French (3 February 2014). "Arcapita to sell Varel International to Sandvik for $740 million". Reuters. 
  7. ^ Bijoux Terner
  8. ^ [1]
  9. ^ VoIP Communications Management Specialists – Cypress Communications
  10. ^ [2]
  11. ^ http://www.forba.com
  12. ^ [3]
  13. ^ "CIT Provides Financing for J. Jill Acquisition". Bloomberg News (Press release). May 17, 2011. 
  14. ^ Meridian Surgical Partners | Performance, Efficiency, Achievement, Knowledge
  15. ^ ARCAPITA ACQUIRES LEADING STORAGE AND MOVING COMPANY FOR $451.4 MILLION
  16. ^ Welcome to Tensar International Corporation
  17. ^ Home – Transportation Safety Technologies Inc
  18. ^ Working|Rx
  19. ^ Yakima Racks, Bike Racks, Roof Racks for Skis, Cargo & Kayaks – Yakima
  20. ^ Log Homes, Log Home Floor Plans, Log Cabins, Log Cabin Homes, Get log home floor plans from America's largest log home company
  21. ^ http://www.arcapita.com/all_investments/companies/3pd.html
  22. ^ http://www.xpologistics.com/press-and-media/newsroom/2013/08/16/xpo-logistics-completes-acquisition-of-3pd
  23. ^ "Church’s Chicken sold to private equity firm". Retrieved 2013-07-19. 
  24. ^ "ARCAPITA ANNOUNCES AGREEMENT TO SELL ROXAR FOR $370 MILLION". Retrieved 2013-07-19. 
  25. ^ Tender Loving Care
  26. ^ Amedisys Closes TLC Health Care Services, Inc. Acquisition

External links[edit]