Ayman A. Khaleq

In particular, Ayman regularly works in the area of Islamic finance and investment where he helps regional and international clients address the structural and documentation requirements associated with such products. Moreover, he also acts for a wide range of international clients on matters relating to doing business in the broader Middle East region in sectors including energy, technology, telecommunications, healthcare and education.

Ayman, who is fluent in Arabic and English, is a frequent speaker at international conferences on topics relating to foreign investments, investment management and structured transactions (including Islamic finance). In addition, he is teaching a course on transactional Islamic law at Bocconi University (Milan, Italy) and has taught a similar course for six years at George Washington University Law School in Washington, DC.

Investment Funds and Private Placements

• Led the team representing NBK Capital Partners, the investment management arm of the National Bank of Kuwait, in the structuring, documentation, and launch of its second Gulf Cooperation Council-focused, Sharia-compliant real estate investment fund, NBK Capital Partners Mezzanine Fund II, at US$110 million.
• Represented GFH Financial Group on the structuring and documentation of a $125 million acquisition of an industrial real estate portfolio in the US including on finance and joint venture arrangements pertaining to the same.
• Represented GFH Financial Group on the structuring and documentation of a $55.5 million acquisition of an industrial real Esteban portfolio in the US including on finance and joint venture arrangements pertaining to the same.
• Currently representing a Middle East financial services provider in the establishment of a US$157 million pooled investment vehicle to invest in a US logistics real estate fund.
• Currently representing a number of US and European private fund manager in connection with the structuring and documentation of Shari’a-compliant feeder funds with exposure to leveraged buyout, credit and secondary funds.
• Led the team representing Al-Futtaim Capital (part of the Al-Futtaim Group) in connection with the structuring and documentation of Al-Futtaim MENA Real Estate Development Fund and Al-Futtaim MENA Real Estate Shari'a Development Fund. The two funds (combined) had a first closing at AED1.84 billion (US$500 million).
• Led the team representing NBK Capital and GSC Corporation in connection with the structuring and documentation of NBK Capital-GSC Mezzanine Fund I, L.P., a US$200 million MENA mezzanine fund.
• Led the team representing Pramerica Real Estate Investors GmbH (a subsidiary of Prudential Real Estate Investors) in connection with the structuring and documentation of a Shari'a-compliant structure for investments in real estate securities in South East Asia.
• Led the team representing a leading Saudi Arabian bank in connection with a series of Shari'a-compliant capital protected funds with combined assets exceeding US$500 million to be offered to investors in Saudi Arabia.
• Led the team representing a leading Bahraini investment bank on the structuring, documentation, and formation of a Shari'a-compliant US$150 million fund that will invest in global private equity opportunities.
• Led the team representinga leading Saudi Arabian bank in connection with the structuring and formation of a series of Shari'a-compliant and conventional mutual funds that invest in a wide range of equity, commodities, bonds and money market instruments with combined assets exceeding US$6 billion.
• Led the team representing the real estate subsidiary of one of the largest banks in the Middle East on the structuring, documentation, and formation of a US$250 million Middle East real estate development fund.
• Led the team representing Catalyst Investment Management Company on the structuring, documentation, and formation of a US$50 million private equity fund that will invest in small and medium-sized enterprises (SMEs) in the energy and water industrial and technology sectors in the Middle East and North Africa. The fund received Overseas Private Investment Corporation financing in the amount of US$33 million.
• Represented a leading Bahraini investment bank on the structuring, documentation, and formation of a Shari'a-compliant US$150 million fund that will invest in Middle East real estate projects.
• Represented a U.S.-based medical technologies fund in connection with the formation of a Bahrain-based feeder fund.
• Led the team representing the New York subsidiary of a leading French bank in connection with the structuring and documentation of a Shari'a-compliant capital-protected fund of funds.
• Led the team representing a leading Islamic investment bank and an international fund manager in connection with a US$200 million Shari'a-compliant private equity fund that will invest in New Zealand and Australia.

Debt Capital Markets and Structured Transactions

• Led the team representing the FWU Group, a German financial services firm, in connection with a US$100 million “Sukuk Al-Wakala” program backed by unit-linked insurance policies written by Atlanticlux Lebensversicherung S.A., Luxembourg – a BBB’-rated multinational insurance provider; named 2013 Europe Deal of the Year by Islamic Finance News.
• Led the team representing a Luxembourg-based multinational insurance provider in connection with an issuance, through a Guernsey regulated reinsurance vehicle, of US$67.261 million insurance linked covered notes privately placed with international investors.
• Led the team representing Al Madina Investment in connection with a US$130 million issuance of a privately placed Sukuk Al-Ijara to fund a sale-leaseback transaction with respect to a prime real estate asset in Oman. The Sukuk issuance was the first of its kind in Oman and is being undertaken on the back of the new Sukuk legislation that is currently being developed in Oman.
• Led the team representing the FWU Group, in connection with a US$55 million Sukuk Al-Ijara to fund its Takaful operations. This is the first Sukuk by a German corporate and the first to utilize intellectual property rights as the underlying asset; named 2012 Europe Deal of the Year and Ijara Deal of the Year by Islamic Finance News.
• Co-led the team representing Merrill Lynch and BSEC-BEMO Securitization SAL, as lead arrangers, on a US$165.67 million Sukuk for East Cameron Partners, an independent oil and gas exploration and production company in Texas; named 2006 Most Innovative Islamic Finance Deal of the Year by Euromoney and Best Structured Finance Deal of the Year and Best USA Deal of the Year by Islamic Finance News.
• Led the team representing Liquidity Management Centre, a Bahrain-based Islamic joint stock company, as lead arranger of over US$500 million in Sukuk issuances and corporate finance instruments to fund projects and corporations in Bahrain, Kuwait and UAE.
• Led the team representing a Munich-based private equity firm in connection with mezzanine financings for two of its Middle East-based healthcare portfolio companies.
• Led the team representing lender Gulf Credit Partners Lending Limited in connection with a US$20 million loan to Sakr Energy Solutions FZCO, a free-zone entity in Jebel Ali Free Zone in Dubai.
• Led the team representing lender NBK Capital Mezzanine Fund on a US$10 million financing to Eikon International Holdings FZ LLC, a free-zone entity in Dubai International Academic City.
• Led the team representing Liquidity Management Centre, as lead arranger, on a US$140 million Shari'a-compliant aircraft sale and lease-back arrangement for Bahrain Mumtalakat Holding Co., the sovereign wealth fund of the Kingdom of Bahrain.
• Led the team representing a leading regional private equity group in negotiating its AED300 million (US$1=3.67 AED) secured Murabaha financing from a leading UAE bank.
• Led the team representing Turk Telekomunikasyon (Türk Telekom) in connection with a 172.5 million guarantee facility with SMBC, Société Générale, ING, and The Bank of Tokyo Mitsubishi supporting a 150 million facility from the European Investment Bank.
• Led the team representing Turkish and Austrian telecommunications companies in connection with a 196 million term facility arranged by WestLB, London Branch for general corporate purposes and funded by a syndicate of banks composed of BNP Paribas, HSBC Bank plc, ING Bank NV, Raiffeisen Bank International AG, and WestLB AG.

Restructuring

• Co-led the team representing a Kuwaiti investment company, in connection with the Shari'a-compliant restructuring of its US$3.5 billion debt.
• Led the team representing a syndicate of lenders on the US$800 million restructuring of a leading international developer and operator of destination resorts, casinos, and luxury hotels.
• Led the team representing creditors in connection with the ongoing restructuring of the obligations of a Kuwaiti real estate company arising under the US$200 million Sukuk Al-Musharaka.
• Led the team representing creditors in connection with the ongoing restructuring of the obligations of a UAE-based family office arising under the US$100 million Sukuk.