Al Salam Europe mulls new deals by year-end -CEO
* New real estate or private equity investments lined up
* Sees wealthy Muslims as untapped market
* Sees "vintage years" for Sharia-friendly asset classes
LONDON, Nov 4 (Reuters) - The European unit of Bahraini Islamic lender Al Salam SSUD.DU is considering real estate and private equity investments that could complete by January.
"We would hope to have something else for the market before year-end," Mohammed Paracha, CEO of Al Salam Europe Ltd, told Reuters on the sidelines of a conference on Wednesday.
In June, Al Salam acquired the Milton Gate office tower in London from UBS Triton Fund in a deal worth more than $220 million. Paracha declined to elaborate on the structure of the latest intended deals or their size.
Real estate and private equity are seen as the mainstream asset classes most appropriate to the principles of Islam, which encourage a split of risk and rewards between investors and entrepreneurs as well as the use of tangible assets. Continued...
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