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Neo Capital appoints Babak Sultani as CEO to drive growth and strategic initiatives

Neo Capital plans to increase its assets under management to $3 billion in the medium term

Neo Capital, a leading global real estate investment management firm, announced today the appointment of Babak Sultani as its Chief Executive Officer (CEO). Babak will be based in Dubai and takes up this role with immediate effect.

In his new role, Babak will focus on strengthening Neo Capital’s position in the market, with the objective of growing the firm’s Assets Under Management (AUM) from approximately $1 billion to $3 billion in the medium term. He will spearhead efforts to expand the firm’s investor base in the GCC, as well as lead the acquisition and asset management activities; ensuring optimal performance and value creation for investors and shareholders.

Babak Sultani brings over 20 years of real estate experience to Neo Capital. He joins from Investcorp, where he spent 15 years and held the role of Managing Director of the Real Estate Group. During his tenure, he played a crucial role in growing Investcorp's real estate AUM to over $10 billion. Babak holds a Master’s Degree in Science in Accounting from the University of Texas at Arlington.

Hani Obaid, Founder and Chairman of Neo Capital, said: "We are delighted to welcome Babak as our new CEO. His extensive experience in the real estate industry, combined with his strategic and leadership skills, will be instrumental in leading Neo Capital through its next phase of growth. Babak's appointment brings structure, focus, and a strong client-centric mindset to the role."

Babak Sultani, Chief Executive Officer, added: "I am excited to be joining Neo Capital at this time of its growth journey. The market timing is ideal and I see great potential in the firm. With a strong team already in place, I believe we have the expertise and skill set required to deliver on our strategic objectives and capture more opportunities while delivering value to our clients."

Founded in 2015, having transacted approximately $1 billion to date, Neo Capital has a strong track record of successful transactions across the US, Western Europe, and the UK. The latest addition to their portfolio is the acquisition of Liverpool’s Royal Albert Docks, a historical site and landmark attraction in the City of Liverpool, UK.