Industry Newsroom

Global Capital Management Sells JTC to QPIC

Global Capital Management (GCM), the alternative asset management arm of Global Investment House, and the Boodai family, owners of Kuwait-based conglomerate BoodaiCorp, have sold a 60 percent stake in Kuwait-based port management and logistics services company Jassim Transport and Stevedoring Company (JTC) to Kuwait-based Qurain Petrochemical Industries Company (QPIC). GCM first acquired a majority stake in JTC through Global Buyout Fund and Global Opportunistic Fund II in 2008. Financial details of the transaction were not disclosed.