Mumbai: Dubai International Capital, the investment fund controlled by the ruler of Dubai, plans to invest about $5 billion in the emerging markets of India and China as also in Japan over the next three years.

Dubai International plans to raise its assets under management from $13 billion to $25-30 billion in the next three to four years, estimating that India, China and Japan would make up one-fifth of the total, the fund's chief operating officer, Anand Krishnan, said.

"I would think the three countries in the next three years would take a share possibly of about $5 billion," Krishnan told a news conference.

He said the fund was searching for opportunities in Japan's auto industry and other sectors, such as entertainment, that have channels to growing demand in emerging economies.

Krishnan said the fund could raise its existing holdings in companies like Sony Corp and was looking for potential investments in other Japanese shares.

"Clearly because of the growth in emerging markets, we believe companies having exposure to emerging markets will grow significantly as well," he said, adding that the fund would be open to raising its stake in other major groups such as HSBC Holdings and Netherlands-based aerospace company EADS.

Dubai International had in November made a "substantial investment" in Sony but did not disclose the size of the stake.

Dubai International Capital is the investment arm of Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum's Dubai Holding.