Rasmala

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.

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

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

• Alternative investment management
• Shariah-compliant structuring
• Real estate income funds
• Global sukuk funds
• Institutional asset management

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. 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.
2. 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.
3. 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

Core 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

Named customers10 records

Segments3 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor and core.

• RotanaminorChannel Partner/ Reseller/ Distributor · 30 October 2025SKH 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 NetherlandscoreStrategic or Co-development Partner · 12 August 2025Rasmala 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.
• SystabominorImplementation/ SI/ Consulting Partner · 12 August 2025Systabo 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

Regional 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

• Xx.com/rasmalagroup
• YouTubeyoutube.com/@rasmala7165
• LinkedInlinkedin.com/company/rasmala

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rasmala