The legacy GulfCap was founded in 2006 by Mr. Jamil Qureshi, in partnership with Mr. Suleiman Shahbal, to pursue transactions in proprietary private equity investments and their management thereof, within the financial services, oil & gas and real estate sectors. In addition, the objective was to provide investment / financial advisory, management consultancy and corporate finance services. Following its establishment, during the course of 2007, a group of highly prestigious High-Net-Worth Individuals and Institutional Investors from the Kingdom of Saudi Arabia, the Kingdom of Bahrain and the Sultanate of Oman, joined the Founders of GulfCap as additional Strategic Shareholders, by subscribing to the share capital of the company. Subsequently, the shareholders of GulfCap were also authorized by the DFSA in Dubai to operate as an Investment Banking Company in the name of Gulf Investments.
During 2006 though to 2010, the Group was instrumental in founding two Islamic Banks (Pakistan and Kenya), a Life Takaful (Pakistan), establishing a Car Leasing Company (India), acquiring the largest private sector oil and gas drilling company, launching a mega mixed-use real estate development community, and providing financial advisory, corporate finance and investment banking services to various third party clients.
Following the restructuring of shareholders' interests in the Group in 2010, which resulted in the liquidation of Gulf Investments, the management team re-launched the GulfCap Group (GCG), which includes GulfCap Group FZ LLC and GulfCap Investments LLC, together with various corporate entities within the UAE and Pakistan. GCG is engaged in setting up business ventures and providing business and financial advisory services mainly in the Gulf, South Asian and East African regions.