FrontierAlt Investment Management Corp. today announced a new strategic partnership with Oman National Investment Corporation Holding (ONIC.OM) aimed at providing strong domestic and global growth opportunities for both companies.
“This strategic partnership will facilitate frontierAlt’s vision of becoming a global financial institution”, said Asif Khan, chairman & CEO of FrontierAlt, “We will be able to leverage ONIC’s strengths in the Middle East and Asia to expand our offerings and provide quality investment solutions to a far larger and more diverse investment audience. At the same time, frontierAlt will support ONIC’s growth plans in North America.”
ONIC Holding Group CEO Akbar Habib explains, “It’s a strategic investment, and another milestone in ONIC Holding’s plans to truly diversify our investment portfolios. This creates good synergy with our existing business and at the same time provides geographical diversification.”
ONIC is a diversified investment holding company with core competencies in insurance, leasing, housing finance & other related sectors. ONIC Holding’s direct subsidiaries include Al Ahlia Insurance & National Life Insurance; and ONIC’s affiliates include International General Insurance, Oman Orix Leasing, Alliance Housing Bank, Gulf Warranties, National Finance House Bahrain, and PAK Oman Asset Management. ONIC Holding’s largest investor is Dubai-based Shuaa Capital, the largest UAE investment bank by market value.
“An entry into the North American market will provide other investment opportunities to ONIC Holding and will enable the company to achieve its vision of becoming a global financial services conglomerate,” says Chairman Sayyid Khalid Hamad Hamoud Al Busaidi.
FrontierAlt will also be the gateway to the Gulf Region for Canadian companies looking to participate in the capital markets in the Gulf Region through coordinating the efforts of capital market authorities in both jurisdictions.
FrontierAlt Investment Management Corp. is a Canadian financial services company based in Toronto. It t specializes in the manufacturing and distribution of mutual funds, structured products and flow-through limited partnerships.
FrontierAlt sells 20% equity stake to Gulf Region financial group
- By: IE Staff
- March 6, 2007 March 6, 2007
- 13:50