Bahrain-based investment firm Arcapita has emerged from Chapter 11 reorganisation proceedings in the US.
The firm said it will continue to manage the Arcapita investment portfolio on behalf of investors and creditors. It added that RA Holding, a new entity owned by its creditors, will realise the value of Arcapita’s interests in its investment portfolio.
The reorganisation, which becomes effective today, puts in place a $350m Goldman Sachs led financing facility that will be utilized to fund operating cash flow requirements.
Arcapita, which has some $7.4bn of assets under management, filed its reorganization plan in February this year.
Arcapita CEO Atif Abdulmalik said, “Chapter 11 was a challenging experience, but one which has enabled us to deliver a solution in the best interests of our investors, creditors, and other stakeholders.
“Under New Arcapita, we will be able both to assist RA and investors to maximize the value of the existing investment portfolio and to undertake new investment opportunities.”
With offices in Atlanta, London and Singapore, Arcapita invests in private equity, real estate, infrastructure and venture capital.
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