The Dubai-based investment company Shuaa Capital is to cease making investments in its private equity funds following a difficult period for the group, which is in the process of reducing its headcount in line with a strategic review conducted in the spring.

A spokesman for Shuaa Capital said that the group's private equity division, Shuaa Partners, was unlikely to raise a new dedicated private equity fund. He also said the firm would not make any more investments from its two existing funds and would instead focus on maximising value for investors from the existing portfolio assets.