Dechert Advises Azimut in Establishment of AED500 Million DIFC Public Fund

Dechert LLP advised asset management firm Azimut (DIFC) Limited in connection with the establishment of a Dubai International Financial Centre (DIFC) fund which in collaboration with Noor Bank, a leading UAE Shari’ah-compliant bank, has raised AED507 million in subscriptions within two weeks of its launch.

The fund, launched by Azimut (DIFC) Limited, a subsidiary of publicly listed Azimut Holding SpA, a leading European independent asset manager with assets under management in excess of US$62 billion will mature in four years and is set to provide an income of five per cent per annum through investing in a professionally managed sukuk portfolio.

Dechert continues to be a leading firm in Dubai for legal advice in respect of the DIFC, a dedicated financial hub for Middle East funds.

Azimut Limited was advised by a Dubai-based team led by financial services partner Phillip Sacks with the support of associates Ed Brown and Dounia Mansour.

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Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.