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Jurisdiction(s):
United Kingdom
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Key definition
Investors definition

What does Investors mean? In private equity practice, investors are the persons or entities that commit capital to a fund in return for economic returns and contractual rights under the fund documents. In the UK and Ireland, private equity funds are commonly structured as English or Scottish limited partnerships or the Irish ILP; investors typically participate as limited partners (LPs). Investors are mainly institutional: occupational pension schemes, insurance companies, sovereign wealth funds, funds of funds, and university or charitable endowments. High‑net‑worth individuals and family offices also invest, often via feeder, nominee or aggregator vehicles. Some may make co‑investments alongside the fund. The term...

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Islamic property finance: Ijarah, diminishing Musharaka, commodity Murabaha and Wakala documentation, structuring, tax, regulatory and investment issues, and English/Shari'ah law considerations

Practice notes
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Islamic real estate finance

Islamic real estate finance is gaining increasing traction and has become firmly embedded in the UK and global property arenas. Worldwide Islamic finance assets are assessed at over US$4.5tn, with the sector forecast to keep expanding to US$6.7trn by 2027. This growth has been, and is expected to remain, driven by worldwide economic developments, evolving demographic trends, higher income levels and rising investment from the Gulf Co-operation Council, itself spurred by strong returns across the Halal, Infrastructure and Sukuk segments. Consequently, the UK is well positioned to continue capturing the advantages of this consistently expanding market. At the same time, conventional financial institutions are increasingly turning to Islamic finance to complement traditional Equity and debt solutions. The purpose of this Practice Note is to consider in detail the principal Islamic real estate finance structures set out below:

  • Ijarah
  • Diminishing Musharaka
  • Commodity Murabaha
  • Wakala

A review of the documentation required for each of these structures will be provided, together with an analysis of the legal, tax and regulatory considerations that apply to them in the UK...

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Imam Qazi
Imam Qazi

Imam is a Partner and Islamic Finance specialist with considerable experience in dealing with a range of high-value and complex investment, finance and development transactions. An active participant in the Islamic Finance market for over 10 years, he has developed a broad Islamic Finance practice advising investors and financial institutions on a range of shariah compliant products and structures. Since joining in 2011, Imam has built a core team of specialist lawyers at Foot Anstey who are now respected and recognised as genuine experts. Imam is a member of the Advisory Board of the Association of Muslim Lawyers, the Arab Bankers Association and the Islamic Finance Experts Group. He has earned numerous plaudits; he's recognised as a 'leader in his field' by Chambers UK legal directory and has been listed amongst the most "innovative and inspirational" lawyers in the legal industry by his...

Web page updated on 21/05/2026

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