Bahrain’s Arcapita Bank BSC has raised $100 million from shareholders to fund a return to dealmaking a year after it emerged from bankruptcy, Bloomberg News reported today. The new equity will be used to fund Shariah-compliant private equity and real estate investments in Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Oman and Kuwait, the bank said today. Arcapita will also look at U.S., Asian and European investments at a later stage, it said. Arcapita emerged from bankruptcy in September 2013 after securing a $350 million loan from Goldman Sachs Group Inc. The bank filed for bankruptcy in March 2012 after negotiations with creditors over a $1.1 billion syndicated loan failed. Under the terms of its debt restructuring, a new company called RA Holding Corp. was created to manage Arcapita’s $3 billion of assets. Arcapita earned $10.1 million in the fiscal year ended June, mostly from fees for managing RA on behalf of creditors.
