Atlas Merchant Capital secures commitment of $100mn from Qatar Financial Centre and seeks $1.5bn from other investors
Atlas Merchant Capital, which was co-founded by Diamond almost a decade ago, has received a non-binding commitment of $100mn from the Qatar Financial Centre (QFC), the Doha-based site through which international companies tend to do business in the country.
The new investment fund, which will be advised by Atlas Merchant, is seeking to raise $1.5bn from other institutional investors ahead of closing next year.
Diamond established Atlas Merchant Capital in 2013 to acquire unwanted assets from banks. He founded the group with David Schamis, who previously worked at private equity firm JC Flowers, after Diamond was ousted from Barclays in 2012 over the Libor rate-rigging scandal.
Read more: FT
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