Hong Kong-based HPF Private Investment Fund has wholly acquired Amman-based investor, Jordan Dubai Capital for JD92 million (US$130 million).

JD Capital was acquired by HPF from its primary shareholder, state-owned Dubai International Capital The firm was founded in 2005 by DIC as an investment company focused on opportunities in the Jordanian economy, mainly energy, financial services and real estate sectors.

HPF - which was set up in January - is expected to change Jordan Dubai Capital's name to reflect the new ownership.