Investment firm Abu Dhabi Capital Management (ADCM) has marked its first birthday by launching a UK-based fund investing in the GCC. ADCM will act as investment managers to Qannas Investments Limited, which announced its intention to admit its shares for trading London’s AIM market in mid-January.

“Qannas is a new vehicle and an extension of what we did in ADCM back in 2011,” ADCM's CEO, Jassim Alsediqqi, told Mena FM. “Our focus is on the GCC because we believe it is our expertise and the best opportunity that we know of right now,”

ADCM, which was established in January 2011, intends to raise $60m initially through a Qannas IPO, as part of a planned $200m investment programme. It will invest in a diversified portfolio of undervalued equity and debt instruments in the GCC, targeting returns of at least 20%.

“In 2011 ADCM did several transactions on deals at very ‘cheap’ prices and we’ve already seen the terms from those transactions,” said Alsediqqi, adding that low prices in the region are due to liquidity dislocation. “Now is the best time because I don’t know if liquidity dislocation will exist in five years or in three years time. I don’t think it will,” he said. “We will be providing this liquidity in the needed pockets and as the liquidity providers we will be capitalising on the dislocations in prices and values that we see.”

Qannas will be incorporated in Jersey and regulated by the Jersey Financial Services commission. Alseddiqi will be on the board in addition to three independent directors.