16 August 2015
KUWAIT CITY: Global Investment House (Global) announced that Global Buyout Fund, one of the five private equity funds managed by Global's alternatives asset management team has distributed $15 million to its investors. This is the second distribution from the fund this year after distributing $ 4 million at the beginning of 2015. With this distribution, the total amount distributed by the Global's private equity funds exceeds $ 473 million since inception.
The fund currently holds five investments across the MENA region and Turkey, including the leading up-market women clothing, accessories and home decoration collections retailer in Turkey, Yargici; one of the largest medical equipment and disposable products manufacturer and traders in Europe, Bicakcilar; a leading pan-GCC retail pharmacies chain and wholesaler, Planet Pharmacies; one of the leading regional heavy equipment rental and port management companies, Jassim Transport and Stevedoring Company; and the leading steel pipes and merchant bar producers in Oman, Al Jazeera Steel Products Company.
The funds managed by Global have undergone a successful turnaround in many of their key investments and have put most of the portfolio companies back on positive growth trajectory after a challenging period for Middle Eastern private equity funds.
The team is currently working on launching the first Middle East focused secondary fund and a health care platform to invest in the lucrative health care market in the GCC and Turkey, with several seed investments readily available.
In the last five years, the team has completed four investments in their funds, including one investment in India and three in Turkey, which also makes them one of the most active investors in the Turkish market. The private equity division manages five private equity funds and has been one of the first to launch a GCC-focused private equity fund in 2003.
Global Investment House' Vice Chairperson and Group CEO Maha Al-Ghunaim, commented: "It is another important milestone for our private equity funds. With the change of strategy to more active involvement and value creation within our portfolio companies, we were able to grow our portfolio companies' operational profitability after such challenging period in the region, including difficult vintage years, the international financial crisis, the Arab spring, and steep decline in oil prices at the end of 2014."
Ihsan Sancay, managing partner in the private equity (PE) division of Global, indicated that these distributions culminated several years of hard work and dedication.
The PE team is continuously looking for new MENA-based opportunities, especially in defensive and high consumer-centric industries.
Furthermore, the team is still actively looking at opportunities for their last fund, with a remaining dry powder of more than $100 million. This comes as an addition to the secondary fund, which is to be newly launched, after obtaining all respective regulatory approvals, and is expected to attract interest from a selection of international institutional investors
KUWAIT CITY: Global Investment House (Global) announced that Global Buyout Fund, one of the five private equity funds managed by Global's alternatives asset management team has distributed $15 million to its investors. This is the second distribution from the fund this year after distributing $ 4 million at the beginning of 2015. With this distribution, the total amount distributed by the Global's private equity funds exceeds $ 473 million since inception.
The fund currently holds five investments across the MENA region and Turkey, including the leading up-market women clothing, accessories and home decoration collections retailer in Turkey, Yargici; one of the largest medical equipment and disposable products manufacturer and traders in Europe, Bicakcilar; a leading pan-GCC retail pharmacies chain and wholesaler, Planet Pharmacies; one of the leading regional heavy equipment rental and port management companies, Jassim Transport and Stevedoring Company; and the leading steel pipes and merchant bar producers in Oman, Al Jazeera Steel Products Company.
The funds managed by Global have undergone a successful turnaround in many of their key investments and have put most of the portfolio companies back on positive growth trajectory after a challenging period for Middle Eastern private equity funds.
The team is currently working on launching the first Middle East focused secondary fund and a health care platform to invest in the lucrative health care market in the GCC and Turkey, with several seed investments readily available.
In the last five years, the team has completed four investments in their funds, including one investment in India and three in Turkey, which also makes them one of the most active investors in the Turkish market. The private equity division manages five private equity funds and has been one of the first to launch a GCC-focused private equity fund in 2003.
Global Investment House' Vice Chairperson and Group CEO Maha Al-Ghunaim, commented: "It is another important milestone for our private equity funds. With the change of strategy to more active involvement and value creation within our portfolio companies, we were able to grow our portfolio companies' operational profitability after such challenging period in the region, including difficult vintage years, the international financial crisis, the Arab spring, and steep decline in oil prices at the end of 2014."
Ihsan Sancay, managing partner in the private equity (PE) division of Global, indicated that these distributions culminated several years of hard work and dedication.
The PE team is continuously looking for new MENA-based opportunities, especially in defensive and high consumer-centric industries.
Furthermore, the team is still actively looking at opportunities for their last fund, with a remaining dry powder of more than $100 million. This comes as an addition to the secondary fund, which is to be newly launched, after obtaining all respective regulatory approvals, and is expected to attract interest from a selection of international institutional investors
© Arab News 2015
