Kuwait City, Kuwait- GSH, ABC IAM, and the Broe Companies announced today at a joint press conference held in Kuwait the launch of the Bronco Fund, a value add real estate fund that will invest in up to US$ 140 million of US real estate.  The fund’s target is to acquire a diversified portfolio of offices and industrial assets located in major US cities using the “value add” investment strategy.  The fund, anticipated to achieve an IRR of 15%, has already made its first acquisition:  an office building in San Francisco’s South Financial District, one of the US’s premiere office markets.

Fahed Boodai, CEO of GSH stated “We are thrilled to be joined by the Broe Companies in this project and are confident in their capabilities and stellar track record spanning 30 years.  Broe has proven, time and again, its ability in uncovering undervalued opportunities and delivering exceptional returns through a value added approach.”.

“Their involvement, as well as well as our continued partnership with ABC IAM, is sure to make this another exceptional investment opportunity for our investors”, Boodai Added

Pat Broe, CEO of the Broe Companies, added “For thirty years, we have pursued and refined a model that believes in protecting capital first, and then providing a real positive rate of return based on pursuing opportunities in which we can enhance value”

“My management team and I are honored to be working with GSH and ABC IAM. Both institutions have excellent track records in providing sound investment services for their clients, and GSH has excelled in its own real estate investment business.”

About the parties involved

ABCIB Islamic Asset Management Limited (IAM) is a wholly owned subsidiary of ABC International Bank plc, London and is staffed by employees dedicated solely to Islamic banking and finance. The primary responsibility of this team is the origination and management of transactions and assets which comply with Shariah and in this it works closely with ABC Islamic Bank, Bahrain.

ABCIB is a UK-registered company, authorised and regulated by the Financial Services Authority in London. It is a wholly-owned subsidiary of Arab Banking Corporation (ABC), a leading international Arab banking group headquartered in the Kingdom of Bahrain.

The Broe Companies

The Broe Group is a privately held international investment, acquisition, and operational enterprise that encompass a collection of diversified hard-asset businesses that produce a critical mass of ‘value’ and ‘interrelated’ deal making opportunities. Headquartered in Denver, Colorado, Broe owns and/or operates in excess of US$2 billion in assets and has operations in North America, South America, Europe and Asia Pacific, with over 3000 “Associates”.