Rasmala
Rasmala is a DIFC-headquartered, DFSA-regulated alternative investment manager founded in 1999, managing USD 1.4+ billion for Gulf family offices, HNWIs, and institutional clients via Shariah-compliant real estate, Sukuk, and equities strategies across the UK, UAE, USA, Netherlands, and Germany.
- Company typePrivate
- Founded1999
- HeadquartersLondon, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Rasmala does
Rasmala is a Dubai-headquartered alternative investment manager established in 1999, regulated by the Dubai Financial Services Authority and operating from the Dubai International Financial Centre with a London office. The firm builds and distributes Shariah-compliant investment vehicles for Gulf-based institutional and family office capital, with reported assets under management of USD 1.4 billion (Forbes Middle East, 2025) and cumulative transaction value exceeding USD 4 billion across 18 real estate transactions spanning the UK, UAE, USA, Netherlands, and Germany.
The product suite includes European, Long Income, and North American real estate income funds, the Rasmala Global Sukuk Fund, a Strategic Equities offering, and the Viridian Living Fund, all structured through the firm's DFSA-regulated Shariah-compliant platform. Underlying real estate assets are leased to diversified blue-chip tenants including Microsoft (across 13 hyperscale data center sites), Tesco, Decathlon, Axalta, and Genencor. The firm also executes episodic advisory mandates, notably a AED 500 million engagement for The Cove Rotana Resort in the UAE. External validation includes the Forbes Middle East Top 50 Asset Managers ranking (#44 in 2026, #38 in the 2025 Top 40) and an LSEG Lipper Fund Award in 2026.
Rasmala's revenue model combines recurring asset management fees on AUM, transactional and advisory fees on episodic mandates, rental income from owned real estate assets, and performance fees tied to fund realizations such as the 8x return reported on the Poseidon Fund exit with approximately USD 500 million distributed to investors. Pricing is not publicly disclosed. The client base is concentrated in UAE family offices, high-net-worth individuals, and institutional LPs seeking Shariah-compliant exposure to global real estate and capital markets.
Rasmala firmographics
Firmographics- Name
- Rasmala
- Legal name
- Rasmala Investment Bank Limited
- Website
- https://rasmala.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Rasmala is a DIFC-headquartered, DFSA-regulated alternative investment manager founded in 1999, managing USD 1.4+ billion for Gulf family offices, HNWIs, and institutional clients via Shariah-compliant real estate, Sukuk, and equities strategies across the UK, UAE, USA, Netherlands, and Germany.
- Ownership category
- akta.pro rank
Rasmala industry classification
Industry- Product category
- Alternative Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)
- akta.pro secondary industry
- Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)
Keywords
Where Rasmala is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Rasmala business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Asset Management Fees: Rasmala earns management fees on its alternative investment products including real estate income funds (European Real Estate Income Fund, Rasmala Long Income Fund, North American Real Estate Income Fund), the Rasmala Global Sukuk Fund (UCITS, Luxembourg), and segregated portfolios. The firm manages USD 1.4+ billion in assets under management generating recurring management fee income.
- Advisory and Transaction Fees: Rasmala Investment Bank acted as financial advisor for the AED 500 million The Cove Rotana Resort acquisition (SKH Private Family Office / Rotana transaction, October 2025), earning advisory fees. The Poseidon Fund structured and managed GulfNav's USD 59.9 million MCB issuance, generating structuring and management fees.
- Real Estate Income: The firm's real estate funds generate rental income from fully tenanted income-producing properties (offices, residential, retail, industrial, data centres, logistics, laboratories, supermarkets). The vast majority of properties in the portfolio are fully tenanted and income-producing. Income is distributed to fund investors.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
Rasmala product offering
Product offeringCore offering
Rasmala is an independent provider and manager of alternative investment products serving Gulf-based institutional investors. It manages open-ended and closed-ended real estate income funds (UK, European and North American), the UCITS Rasmala Global Sukuk Fund, segregated portfolios, and bespoke structured solutions, alongside financial advisory services for strategic M&A and capital market transactions. The firm has USD 1.4+ billion in assets under management and USD 4+ billion in cumulative deal transactions and exits.
Product overview
Rasmala Investment Bank Limited is an independent provider and manager of alternative investment products serving Gulf-based investors including pension funds, family offices, corporates, endowments, and financial institutions. The company operates through multiple fund structures including the Rasmala European Real Estate Income Fund, Rasmala Long Income Fund, and Rasmala North American Real Estate Income Fund. The product portfolio comprises both open-ended and closed-ended funds, as well as single-asset investments spanning real estate (residential, commercial, industrial, logistics, data centers, laboratories), fixed income (including the Rasmala Global Sukuk Fund), and infrastructure. Investment strategies include Global Real Estate, Fixed Income, Strategic Equities, and Shariah-Compliant Structuring. The funds invest across geographies including the UK, Continental Europe, North America, and UAE, with domiciles in Cayman Islands, Jersey, Luxembourg, and global reach.
Differentiator
Problem solved
Functional benefit
Brands
- Viridian Living Fund (VLF): UK residential sector investment fund focusing on built-to-rent and serviced apartments, formerly known as Generation Living Solutions.
- Rasmala Global Sukuk Fund
Quantifiable outcome
- Rasmala Global Sukuk Fund delivered 7.92% YTD gross return in 2025
- +5 more outcomes
Companies that use Rasmala
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles2 records
Rasmala technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Rasmala partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- RotanaminorSKH Private Family Office and Rotana signed a hotel management agreement for The Cove Rotana Resort in Ras Al Khaimah. Rotana will resume full management and operations for 15 years from December 1, 2025. Rasmala Investment Bank acted as financial advisor for the transaction. Rotana's role is property management, not a direct Rasmala partnership.
- GARBE Industrial Real Estate NetherlandscoreRasmala co-developed the Almelo logistics facility with GARBE Industrial Real Estate Netherlands from project inception, alongside main contractor Systabo. The partnership navigated complex cross-border structuring, regulatory, and development risks to deliver a tailor-made 312,000 sq. ft. robotics-enabled distribution centre.
- SystabominorSystabo served as the main contractor for the ground-up development of the Almelo logistics facility. Rasmala and GARBE co-developed the project with Systabo delivering the build-to-suit facility.
Scale indicators16 records
Recent moves5 records
Expansion highlights6 records
Rasmala competitors and assessment
Company assessmentRegional players
- SNB Capital: Saudi Arabia's largest asset manager and investment bank by AUM, providing local and GCC institutional asset management including Shariah-compliant funds. Highly comparable in product mix (fixed income, equities, real estate) but materially larger scale in a different national market.
- Gulf Investment Corporation (GIC): Kuwait-based GCC-owned investment bank and asset manager serving regional institutional clients with direct investments, private equity, and capital markets. Comparable to Rasmala in serving Gulf institutional investors with diversified alternative investment strategies.
Broad incumbents
- Franklin Templeton (Sukuk strategies): Global asset manager with established sukuk and Shariah-compliant fund strategies (e.g., Franklin Global Sukuk Fund). Competes with Rasmala Global Sukuk Fund on institutional sukuk mandates, but as part of a multi-trillion-dollar global platform.
- ADCB Asset Management (Abu Dhabi Commercial Bank): UAE bank-affiliated asset management business offering institutional and retail investment products including Shariah-compliant funds. Comparable in serving Gulf institutional clients with diversified fund offerings, but as part of a much larger commercial banking group.
- First Abu Dhabi Bank (FAB): UAE's largest bank by assets, with an institutional asset management and global sukuk franchise serving Gulf pension funds, sovereigns, and corporates. Comparable Shariah-compliant structuring capability at materially larger scale than Rasmala.
- Emirates NBD Asset Management: UAE's largest banking group offering institutional asset management including fixed income, equities, and Shariah-compliant products. Serves the same Gulf institutional client base as Rasmala with a substantially larger balance sheet and product shelf.
Direct peers
- SHUAA Capital: UAE-headquartered investment bank providing asset management, investment banking advisory, and structured finance across the GCC. Directly comparable to Rasmala in combining regional advisory with alternative asset management for Gulf institutional and family office clients.
- Gatehouse Bank: UK-headquartered Shariah-compliant investment bank offering real estate investment, property finance, and savings products to institutional and professional clients. Directly comparable to Rasmala in combining DFSA-style Shariah structuring discipline with UK/EU real estate investment, serving Gulf-linked institutional capital.
- Bank of London and the Middle East (BLME): UK-based Shariah-compliant bank owned by Boubyan Bank (Kuwait), offering real estate finance, wealth management, and treasury services. Operates in the same Shariah-compliant niche as Rasmala, serving GCC-linked institutional and HNW clients with London and Middle East footprints.
Others
- Olayan Financing Company: Saudi Arabia-based diversified financial services and investment group (with Rasmala board member Imtiaz Hydari formerly serving as Group President). Operates regional investment and advisory activities overlapping with Rasmala's GCC institutional footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Rasmala social profiles
Digital presenceRasmala compliance and trust
Trust signalCompliance2 records
Rasmala financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rasmala leadership team
Management profileNumber of profiles
Profiles11 records
Rasmala subsidiaries and ownership
Company hierarchySubsidiaries2 records
Rasmala funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rasmala M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rasmala
What does Rasmala do?
Rasmala is an independent provider and manager of alternative investment products serving Gulf-based institutional investors. It manages open-ended and closed-ended real estate income funds (UK, European and North American), the UCITS Rasmala Global Sukuk Fund, segregated portfolios, and bespoke structured solutions, alongside financial advisory services for strategic M&A and capital market transactions. The firm has USD 1.4+ billion in assets under management and USD 4+ billion in cumulative deal transactions and exits.
Is Rasmala a public or private company?
Rasmala is a private company. It is currently operating.
When was Rasmala founded?
Rasmala was founded in 1999. It employs 51 to 100 people.
Where is Rasmala based?
Rasmala is headquartered in London, United Kingdom, in the Europe region.
How does Rasmala make money?
Three revenue lines are on record. Asset Management Fees are the primary driver. The others are advisory and Transaction Fees and real Estate Income.
Who are Rasmala's main competitors?
Regional players on record are SNB Capital and Gulf Investment Corporation (GIC). Broad incumbents are Franklin Templeton (Sukuk strategies), ADCB Asset Management (Abu Dhabi Commercial Bank), First Abu Dhabi Bank (FAB) and Emirates NBD Asset Management. Direct peers are SHUAA Capital, Gatehouse Bank and Bank of London and the Middle East (BLME). Olayan Financing Company is listed as an others.
Does Rasmala have an API?
No public API is recorded for Rasmala.
What industry is Rasmala in?
Rasmala's product category is Alternative Asset Management. Its primary akta.pro industry code is FSAAACAC, Portfolio Management–Led RIAs (Discretionary/Model-Based), with a secondary code of FSAEABAA, Registered Investment Advisor (RIA) Wealth Management. Its NAICS code is 523940 and its SIC code is 6282.