Arcapita
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| Holding company | |
| Industry | Financial services |
| Founded | 1997 |
| Headquarters | Manama, Bahrain |
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Key people
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Atif A. Abdulmalik, CEO Hisham Al Raee Martin Tan Mohammed Chowdhury |
| $12.4 million | |
| Total assets | $8.4 million |
| Total equity | $7.5 million |
| Parent | Arcapita Group Holdings |
Arcapita Investment Management B.S.C. (formerly First Islamic Investment Bank and Crescent Capital Investments) is an originator of investments in private equity and real estate assets which comply with Sharia principles. Headquartered in Manama, Bahrain, the company and its subsidiaries are wholly owned by Arcapita Group Holdings Limited. Arcapita has offices in Atlanta, London, and Singapore. It owns the Delaware, US-incorporated holding and real estate company Arcapita, Inc. (formerly known as Crescent Investments, Inc.), headquartered in Atlanta, Georgia, which buys American companies for between $200 million and $1 billion, and sells them four to six years later.
On March 15, 2005, parent company First Islamic Investment Bank and its subsidiaries changed their name to Arcapita and adopted a new logo. The name "Arcapita" is a combination of the words "arc" and "capital", "arc" symbolizing the company's global span, from Atlanta to London to Bahrain. The firm indicated that its name change did not relate to potential anti-Islam sentiments in the regions in which it was operating.
The name change resulted in some controversy as to whether it was done to hide the company's Middle Eastern roots. According to the company, the unified name was introduced to avoid confusion about the relationships between the parent company, First Islamic Investment Bank, and its subsidiaries, Crescent Capital in the U.S. and Crescent Capital (Europe) Ltd., based in London. The company also wanted to reassure investors who were uneasy about the perceived religious association of the old name.
In response to the September 11th terrorist attacks, a boycott was initiated against the coffee chain Caribou Coffee, which Crescent Capital had acquired in 2000. According to Fred Taub, president of Cleveland-based Boycott Watch, some people objected to Muslim ownership of the U.S.-based coffee chain. However, the boycott did not have a significant effect on the growth of the chain, which grew from 175 stores in 2001 to more than 400 in 2006.
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Wikipedia