The story
Arcapita was founded in 1997. Around that time, Islamic banking started to gain popularity, but the industry lacked Sharia compliant investment opportunities. Arcapita's Sharia compliant model was created offering private equity and real estate alternative investments. Arcapita's first exit was Computer Generation Incorporated in December 2000.
In 2003, Arcapita opened a London office. In the year that followed, Arcapita acquired Church's Chicken, a quick-serve chicken restaurant chain, based in the United States. In 2005, First Islamic Bank, Crescent Capital Inc. and Crescent Capital Europe rebranded to Arcapita to unify their global brand across three offices in Atlanta, Bahrain, and London.
Arcapita recorded a performance of $360 million in fiscal year 2008, and extended their geographical presence by opening an office in Singapore that would handle investments in Asia. In 2010, Arcapita moved its head office to Bahrain Bay.
In 2013, Arcapita completed its restructuring which was initiated in 2012. This restructure was due to the effects of the world economic crises that lead Arcapita to file for Chapter 11. A year later, Arcapita raised a new equity capital from shareholders to fund its growth strategy. In 2017, Arcapita along with Mumtalakat Holding Company, acquired a controlling interest in NAS United Healthcare Service, making it Arcapita's first private equity investment since the capital raise. In 2017, Arcapita acquired branding firm Stratus; they then sold the firm to Vestar Capital Partners for an enterprise value of more than $450 million, reportedly three times the value at the time of Arcapita's purchase.
In April 2021, Arcapita announced the purchase of the Cedardale Distribution Center in Dallas used by FedEx. The value of Arcapita's US industrial real estate portfolio became over $200 million after the acquisition.
From Wikipedia’s article on Arcapita, shared under CC BY-SA 4.0.4