TPL Investment gets commercial license from Abu Dhabi Global Market
MG News | May 26, 2022 at 03:05 PM GMT+05:00
May 26, 2022 (MLN): TPL Properties Limited has announced that its indirect subsidiary TPL Investment Management Ltd (TPLIM) incorporated in Abu Dhabi Global Market (ADGM), has been granted a commercial license and a category 3C Financial Services Permission (FSP) by the ADGM’s Financial Services Regulatory Authority (FSRA) under the Financial Services and Markets Regulations 2015, allowing it to manage a collective investment fund.
With additional FSPs to arrange deals in investments, TPLIM can advise on investments or credit.
According to the notice issued to PSX, TPLIM, as a licensed fund manager, can launch and manage feeder fund(s) in a foreign jurisdiction(s) to raise funds from international investors for onward investment in TPL REIT Fund I launched by TPL REIT Management Company Limited (a wholly-owned subsidiary of TPL Properties Limited) in Pakistan.
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