We focus on investing in “platform” companies:
strong, profitable businesses with a solid track record and the potential to reach market leadership positions.
Select Portfolio Companies
Meleka Al Bahri works in the Legal & Corporate Affairs function at Fajr Capital. Prior to this, as part of her traineeship under Fajr Capital, she was part of the Legal team at Cravia Group, where she also served as Company Secretary. She is an English qualified lawyer and holds a Bachelor of Laws (LLB) from the University of London, following earlier studies at Monash University.
Ann Almeida is Chairperson of Fajr Capital’s HR Committee. She was previously the Group Managing Director, on the Group Management Board and Group Head of Human Resources & Corporate Sustainability of The Hongkong and Shanghai Banking Corporation Limited (HSBC Group) until her retirement in May 2015. She spent 23 years at HSBC in various HR leadership roles. Prior to HSBC, she was at Merrill Lynch and her early career spanned management consultancy and chartered accountancy. As well as serving as Chairperson of the HR, Compensation and Nomination Committee of the Board of Fajr Capital Holdings Limited, Ann is Chairperson of the Nomination and Remuneration Committee of the Board of Jadwa Investments and a trustee director of Asia House. Ann has an MBA from Imperial College London and an MA in Economics from the University of Cambridge.
Muhammad Rafay is an Analyst in the Finance & Risk team at Fajr Capital. Prior to joining Fajr Capital, he was an Assistant Manager, Deals (Transaction Advisory Services) at PwC (Karachi), where he has been since July 2019. He is a qualified Chartered Accountant and holds a Bachelor of Commerce (B Com.) from the University of Karachi.
Abdallah ElSherif works in the Investments team at Fajr Capital. Prior to joining Fajr Capital, he was an Investment Banking Analyst with Citi’s Banking, Capital Markets and Advisory division (under the Natural Resources and Clean Energy Transition team) in Malaga, Spain. Prior to Citi, he was a Private Equity Analyst at Misr Capital (a subsidiary of Banque Misr) in Egypt. He holds a Master’s in Finance, Major in Investment Banking and Private Equity from IE University, Spain and a Bachelor of Engineering (Civil Engineering with Construction Management) from Ain Shams University, Egypt.
Jacob Cherian is an Analyst in the Investments team after completing a one-year full-time secondment from SGA to the Company. Prior to this role, he was an Analyst at SGA, whereby he had over two years of experience working with offshore PE and IB clients across diversified work products. He holds a Bachelor’s Degree in Business Administration (BBA) and have completed a Certified Management Accountants examination by IMA, and is currently completing his CFA qualification.
Maya Shaar works in the Legal & Corporate Affairs function at Fajr Capital. She has been working in the legal sector in Dubai for several years, including a secondment to a magic circle law firm. Maya is an English qualified lawyer and speaks English, Arabic and German. She holds a LLB (Hon.) Degree from the University of Exeter and a LLM Degree in International Development Law and Human Rights with Distinction from the University of Warwick.
Abdur-Rafay Naeem works in the Finance & Risk function at Fajr Capital. He joined Fajr Capital from A.F. Ferguson & Co. (a member firm of the PricewaterhouseCoopers (PwC) network), where he was an Assistant Manager in the Assurance and Business Advisory (ABAS) group. He qualified as a Chartered Accountant (under The Institute of Chartered Accountants of Pakistan (ICAP)) and holds a Bachelors of Commerce (First Class Division) from the Karachi University, Pakistan.
Cyril Samin is an Associate Director at Fajr Capital and focuses on principal investments. He joined Fajr Capital from Citi, where he was an Associate in the Middle East Investment Banking Team based in Dubai. Prior to that, he was based in London and was part of Citi’s Transportation & Infrastructure Investment Banking Team, which he joined in 2010. Mr Samin holds a master’s degree in International & Corporate Finance from ISC Paris Business School and an undergraduate degree in Business Management from Université de Versailles Saint-Quentin-en-Yvelines in France.
Noman Tahir oversees business development and communications at Fajr Capital. He is involved in various aspects of Fajr Capital’s investment activities and is also responsible for spearheading the development and management of Fajr Capital’s key industry and institutional relationships. Mr Tahir has a decade of experience in developed and emerging markets. He started his career at Weber Shandwick, advising multinational financial services institutions on public affairs and policy in the aftermath of the 2008 financial crisis. He holds a bachelor’s degree in Economics from the University of Glasgow and an MBA from Saïd Business School, University of Oxford.
Pratul Jain is an Associate Director in the Investments team. He was previously a Director at Rothschild & Co based in the UAE, where he specializes in mergers and acquisitions and private equity advisory. Prior to joining Rothschild & Co, he held key roles at several leading financial institutions, including at Moelis & Company (UAE) and Standard Chartered Bank – Investment Banking (UAE). He holds an MBA at the Indian Institute of Management (IIM) Ahmedabad, BTech in Chemical Engineering from the Indian Institute of Technology (IIT) Bombay and has cleared all three levels of the CFA qualification.
Manglam Jain is a Director at Fajr Capital and focuses on principal investments. He joined Fajr Capital in 2011 and has over a decade of Investment Banking experience. He has an MBA (Finance) from the International Management Institute, Belgium, and has completed the Chartered Financial Analyst (CFA) programme.
Hasli Hasan is currently responsible for human capital management and administration, and is Head of the CEO’s Office at Fajr Capital. He joined Fajr Capital from Khazanah Nasional (the Government of Malaysia’s strategic investment fund), where he was Special Officer to the Managing Director / Chief Executive Officer. Prior to that, he spent a few years in equity research and project management roles in Malaysia. He holds an Executive MBA from Imperial College London, a Master of Philosophy (in Engineering) from University of Cambridge, and a Bachelor of Science (in Electrical Engineering) from Purdue University.
Ben Sautelle-Smith is a an Advisor at Fajr Capital. He first joined Fajr Capital in 2012 and most recently served as Managing Director and Group Company Secretary until 2025. Mr. Sautelle-Smith has been closely involved across Fajr Capital’s private equity activities of the past decade, including its landmark investments in Aster Healthcare, GEMS Education and others, and has represented Fajr Capital at board and committee level of its portfolio companies. Mr. Sautelle-Smith holds a First Class LLB (Hon.) degree from Exeter University with commendation for graduating top of year.
Mhairi is a Managing Director, General Counsel and leads Fajr Capital’s legal and corporate affairs function. Prior to joining Fajr Capital, Mhairi was a Partner and Regional Head of the Projects and Corporate Group at Watson Farley & Williams. Mhairi has extensive experience advising on corporate and commercial matters across a diverse range of sectors, in particular energy, transport and social infrastructure. She has led teams advising on the acquisition and disposal of interests, joint ventures, restructurings, and the development of projects across the MENA region and beyond. Dual qualified in England and New York, Mhairi holds a Master of International Politics from Université Libre de Bruxelles, an LLM (International and Corporative Law) from Vrije Universiteit Brussel and an LLB and German Law (first class hons) from the University of Aberdeen.
Atif Mahmood is a Managing Director at Fajr Capital and covers principal investments. He has led Fajr Capital’s investments in the oil and gas (including the successful acquisition and subsequent exit of National Petroleum Services), industrial manufacturing, and infrastructure sectors, and serves on the board and executive committees of various portfolio companies. Prior to joining Fajr Capital, he worked at PwC in Dubai and Karachi. He is a qualified Chartered Accountant, Chartered Management Accountant and Chartered Financial Analyst, with a record-setting nine gold medals at the Institute of Chartered Accountants in Pakistan and a joint third highest in the world in Financial Accounting at the Chartered Institute of Management Accountants in the United Kingdom.
Mubashar Khokhar is a Managing Director at Fajr Capital and covers investments. Between 2015 and 2021, he served as the CEO / Managing Director and Board member of BIBD (on full-time secondment from Fajr Capital). He is a seasoned financial services professional with more than 30 years’ experience across fifteen developed and emerging markets, including the USA, Europe, Asia, Africa and the Gulf Cooperation Council (GCC). Prior to Fajr Capital, Mr Khokhar was the CEO of Ajman Bank, a publicly listed Shari’a compliant bank in UAE, and also served as the CEO of Badr Al-Islami/Mashreq Al-Islami, a wholly owned subsidiary of MashreqBank. During his reign, Ajman Bank received widespread industry recognition, including the coveted ‘Best Domestic Bank’ award in 2011. Mr Khokhar has previously served on the Board of Directors of Badr Al-Islami and SAMBA Pakistan Ltd, and held senior positions in American Express Bank and Bank of America. He has an MBA and BBA (Hon.) from Ohio University, USA.
Zahid Kamal is a Managing Director at Fajr Capital. He is actively involved in various aspects of Fajr Capital’s transactions (including origination, execution and portfolio management) and strategic initiatives. Zahid is a member of the board of directors and investment committee of Fajr Capital. He is also a board and executive committee member of several Fajr Capital portfolio companies, including Cravia Group, and is a member of Emerging Markets Private Equity Association’s Middle East Council. Prior to Fajr Capital, Zahid was a senior lawyer at Ashurst LLP in London and Dubai, where he advised Fajr Capital and other corporate clients. He has over two decades of experience in UK and MENA public and private company transactions, including private equity, M&A, public takeovers, IPOs, investment funds, secondary offerings, restructurings and joint ventures.
Rizwan Kherati is the Chief Financial Officer at Fajr Capital and focuses on corporate and investment operations. He has led a variety of functions at leading international firms, including financial control, financial analysis, audit, risk management, compliance and operations. Prior to Fajr Capital, Mr Kherati was the Global Head of Finance and Risk at HSBC Amanah. In earlier roles, he worked at HSBC Financial Services (Middle East), Orix Leasing and PwC. He is a qualified chartered accountant, cost and management accountant, corporate secretary and internal auditor.
Mr. Halil Ucarer is currently Director, Investments and Head of Khazanah Turkey Representative Office. He also sits on the Board of the Istanbul Sabiha Gokcen International Airport and a Board Observer at Fine Hygienic Holding in Jordan (as a Khazanah nominee). Prior to Khazanah, he was an Investment Officer at the International Financial Corporation (IFC) in Istanbul, Turkey. Prior to this role, he was attached to various institutions in Turkey. He holds a BA in Economics from Koc University (Turkey) and an MBA from SDA Bocconi (Italy).
Mike Powell is an independent director on the Fajr Capital Board of Directors. He is a Managing Partner and Co-Founder of Thematic Capital Partners LLP and Senior Partner of GCS Capital LLP. He was formerly Global Head of Markets for HSBC and a member of the HSBC Group Executive Committee, and is well-known as a seasoned global macro investor with extensive strategic management experience. Mr. Powell is a non-executive director of Jadwa Investment, and serves on the board of a number of technology companies. Mr. Powell has an MBA from Henley Business School.
Chris Masterson is an independent director on the Fajr Capital Board of Directors and is also Chairman of Fajr Capital’s Investment Committee. He is currently the Chairman of Montagu Private Equity, a leading private equity firm in the European market. He has over three decades of principal investment experience at Montagu and elsewhere. Mr. Masterson read Psychology at University College London and holds an MBA from Manchester Business School.
Junaidi Hj Masri serves on the Fajr Capital Board of Directors as a representative of the Government of Brunei Darussalam. He is currently Managing Director of Strategic Development Capital Fund, under the Ministry of Finance and Economy, Brunei Darussalam. He was previously Managing Director of the Brunei Investment Agency (BIA). He joined the BIA in 1991, and was Director and Head of Venture Capital and Strategic Investments, managing BIA’s investments globally. Mr. Masri holds a B.Sc Degree in Computer and Management Sciences from Keele University, United Kingdom.
M. Atila Kurama is an independent director on the Fajr Capital Board of Directors. He is currently the Chairman of BRK Bereke Construction Mining and Investment Inc. and has served as the Board Member of Godiva Chocolatier since its acquisition by Yıldız Holding in 2007. He was previously the CEO of Gozde Private Equity Investment Co., the largest publicly listed Private Equity business in Turkey, and also held several senior positions at the Ulker Group, including Chief Financial Officer of the Group and the General Manager and Executive Board Member of Yıldız Holding until his retirement in January 2014. In addition to strong insight and connectivity into Turkey and other OIC markets, Mr Kurama brings deep expertise in the financial services sector, having played a pivotal role in the 60% sale of Türkiye Finans to Saudi Arabia’s National Commercial Bank (NCB) in 2008. He graduated from Bogaziçi University in Turkey with a Bachelor’s degree in management and received his MBA degree from Cardiff Business School.
Iqbal Ahmad Khan is the Chief Executive Officer of Fajr Capital. He is also a member of the Board of Directors of Aster Healthcare, Cravia Group and MENA Infrastructure. Prior to Fajr Capital, he was the founding CEO of HSBC Amanah, where he built the business and team over eight years into one of the fastest growing and most successful emerging businesses in the HSBC Group. He is a long-time advocate of the Islamic financial services industry, serving as an advisor to government initiatives in Brunei, Malaysia, Saudi Arabia, Singapore, United Arab Emirates and the United Kingdom. He holds a Master’s degree in Political Science and International Relations and a B.Sc. (Hons) in Physics and Chemistry, both from Aligarh Muslim University. He is the recipient of several industry and global accolades, including the Royal Award for Islamic Finance, a biannual prize presented by HM the King of Malaysia, and a Lifetime Achievement Award presented by HH Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE.
Iqbal Ahmad Khan is the Chief Executive Officer of Fajr Capital. He is also a member of the Board of Directors of Aster Healthcare, Cravia Group and MENA Infrastructure. Prior to Fajr Capital, he was the founding CEO of HSBC Amanah, where he built the business and team over eight years into one of the fastest growing and most successful emerging businesses in the HSBC Group. He is a long-time advocate of the Islamic financial services industry, serving as an advisor to government initiatives in Brunei, Malaysia, Saudi Arabia, Singapore, United Arab Emirates and the United Kingdom. He holds a Master’s degree in Political Science and International Relations and a B.Sc. (Hons) in Physics and Chemistry, both from Aligarh Muslim University. He is the recipient of several industry and global accolades, including the Royal Award for Islamic Finance, a biannual prize presented by HM the King of Malaysia, and a Lifetime Achievement Award presented by HH Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE.
Hani Halawani serves on the Fajr Capital Board of Directors as a representative of Mohammed Alsubeaei & Sons Investment Company (“MASIC”), where he is the Chief Executive Officer. Before joining MASIC, Mr Halawani was the Chief Investment Officer at Sanabil Investments. From 2005 to 2008, he worked at the World Bank Group in Washington, DC initially as an Infrastructure Finance Specialist and later as an Investment Officer in the International Finance Corporation, the private sector arm of the World Bank Group. His tenure at the World Bank Group included assignments in Vietnam, Indonesia, and China. Mr Halawani began his career as an Instrumentation Engineer at Saudi Aramco in 1998. He holds a bachelor’s degree in Systems Engineering from Boston University and an MBA from Yale University. He also serves as a director on the board of National Aquaculture Group, Thakher Development Company, Saudi Agricultural and Livestock Investment Company, and MASIC Logistics.
Abdulaziz Alsubeaei serves on the Fajr Capital Board of Directors as a representative of Mohammed Alsubeaei & Sons Investment Company (“MASIC”). He played a pivotal role in the creation of MASIC and is currently a board member of the company. He is also the Chairman of Jabal Omar Development Company, and a founder and member of the Board of Directors of Jadwa Investment. Mr. Alsubeaei also serves on the Founder’s Committee and the Executive Committee of Bank Al Bilad in Saudi Arabia and on the Board of Directors of four other companies.
Adib Abdullah AlZamil is the Chairman of Fajr Capital’s Board of Directors. Mr AlZamil currently serves as the CEO of Zamil Group, which represents the interests of one of the leading business families in Saudi Arabia. He also serves on the Zamil Group’s Board of Directors and Executive Committee. He was previously Managing Director of Finance and Investments at Zamil Group and Managing Director of Zamil Industrial Investments Company. He holds a Bachelor’s degree in Business Administration from Portland State University.
Shaykh Essam Ishaq graduated in Political Science from McGill University, Montreal, Canada. He is currently teaching Islamic Law and Theology in Bahrain, and is recognized as an emerging leader in the discipline of Islamic Finance. Shaykh Essam also serves on the Shari’a Supervisory Boards of numerous Islamic financial institutions, including: Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), Meezan Islamic Bank and Al Baraka Islamic Bank.
Taha Abdul-Basser is an independent scholar of Islamic ethics and law who has provided comprehensive Shari`a advisory services to investment funds, investment banks, retail banks, financial advisories, legal advisors and other institutions since 1998. He received his Bachelors (A.B.) in the Comparative Study of Religion from Harvard College, a Master’s (A.M.) in Arabic and Islamic Studies from the Department of Near Eastern Languages and Civilizations at Harvard University and is an ABD from the same department. He is currently the Harvard Islamic Society Chaplain and a member of the Harvard Chaplains.
Dr Mohamed Ali Elgari holds a PhD in Economics from the University of California. He is a Professor of Islamic Economics at King Abdul Aziz University, and serves as an expert at the Organisation of Islamic Cooperation and the Islamic World League. Dr Elgari is a member of Shari`a Boards of various high-profile Islamic finance institutions and Takaful companies, including the Dow Jones International Islamic Fund Market. He also sits on the Shari`a Board of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and is an Advisory Board member of the Harvard Series on Islamic Law.
