5.12.07

A major new private investment firm has been formed in Dubai, the official WAM news agency reported yesterday.

Dubai Infinity Holdings was set up by a group of prominent local investors and will focus on information technology, education, healthcare, lifestyle, real-estate and entertainment sectors in the region.

Dubai is busy expanding its portfolio of foreign assets.

Government-controlled or backed firms and investment funds have chased strategic targets such as European aerospace giant EADS in which Dubai International Capital bought a 3.12 per cent stake.

Another target was the upscale Barneys New York retail chain, which Dubai investment company Istithmar wrested from a rival Japanese bidder.

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