Corecap has been selected by the World Economic Forum (WEF) as a member of the Community of Global Growth Companies (GGC).
The GGC recognises its members as the new generation of industry leaders and supports them as they expand to become drivers of social and economic development on an international scale, a statement said.
Corecap has been identified by the WEF as a leader in the global economy based on factors including the company’s business model, leadership, growth record, and the market it operates within.
Corecap Limited is an alternative investment firm with operations in Dubai and Qatar focusing on the Middle East and Asia.
Corecap Merchant Bank, the firm’s financial arm, is amongst the first specialised private equity firms to be regulated by the Qatar Financial Centre Regulatory Authority.
The Community of GGC consists of companies that are expanding outside their traditional boundaries; have demonstrated leadership in a particular industry; have an outstanding executive leadership, with revenues typically between $100 million and $2 billion; and have experienced strong growth rates exceeding 15 per cent year on year.
Eighteen companies from the Middle East are members of the GGC, of which seven are from the UAE, including Shuaa Capital, Air Arabia and Etihad Airways, while international member companies include Ransat Group, Hill International and Northgate Capital.
“The rate at which emerging companies are appearing on the world stage is changing the global economic landscape, the World Economic Forum is very proud to welcome CORECAP to join the ranks of the multinationals and among the New Champions”, said André Schneider, chief operating officer and managing director of the World Economic Forum.
Corecap chief executive officer, Khaled Hassan Rashed, said: “We are proud to be recognised by the World Economic Forum as a member of the Community of Global Growth Companies. The WEF is an esteemed organisation and we greatly appreciate the efforts it is making to develop our region. We are delighted to be able to contribute to that process in partnership with the WEF and we are looking forward to building relationships with other Global Growth Companies.” - TradeArabia News Service