Doha, Qatar 29th November 2010

 First regulated property investment fund management firm in Qatar Financial Centre

Matrix ME Alignment Fund Management LLC, today announced that it has recently received authorisation from the QFC Regulatory Authority (“The Regulatory Authority”) to become the first regulated property investment fund management firm operating in the Qatar Financial Centre (“QFC”). 

The firm will now be based in the only fully regulated onshore jurisdiction for Funds in the GCC and is in a position to engage in both onshore and offshore property investment activities in Qatar and the wider region. The QFC will provide Qatari and GCC investors with a more structured regulatory environment than is currently available in unregulated investment structures, whilst offering the additional benefit of zero tax on income at a fund level unlike other major regulated centres.

Matrix ME Alignment Fund Management LLC is a joint venture company formed of Matrix Group and ME Alignment and is made up of an experienced team of asset managers with affiliate offices in London, Dubai and Qatar offering both local and international property management expertise and a proven track record of investment and development in the Gulf region.

Established in 2007, ME Alignment WLL is a Qatar-based Real Estate Development and Investment Company, owned by prominent members of the Al Attiya Family of Qatar.

Matrix Group is a UK based privately owned financial services company with an established track record in UK and mainland Europe and almost £4bn in assets under management. Through the acquisition of an established platform in the UAE, Matrix Group has also added four years of property development and asset management experience in the GCC to its capabilities.

Andrew White, CEO, Matrix ME Alignment Fund Management LLC:
“We are delighted to have received authorisation from the Qatar Financial Centre Regulatory Authority. The Qatar Financial Centre is the ideal location to base the company given our strong relationships in Qatar, as well as the controlled regulatory environment that it provides.

The fact that this combined entity of Qatari, GCC and UK property investment and fund management expertise is now in a position to engage in business onshore in Qatar and offshore across the GCC is a very positive development for investors locally, regionally and internationally.”

Shashank Srivastava, acting CEO, QFC Authority:
“On behalf of the Qatar Financial Centre Authority I would like to welcome Matrix ME Alignment Fund Management LLC as our newest licensed firm. 

This latest announcement is another endorsement of how the QFC Authority's legal and regulatory environment is conducive to global asset managers’ abilities to leverage the QFC as a uniquely sustainable platform to expand their business.”

For further information please contact:

M: Communications
Mary Khamasmieh | khamasmieh@mcomgroup.com | +971 4325 9675 | +971 50 2731 753
Robin Haddrill | haddrill@mcomgroup.com |+971 4325 9675 | +971 55 270 0218