Jabreen Capital's Eastbridge Partners deal offers exposure to fast-growing Asian markets, says CEO

Ominvest's private equity arm acquired 43% of South Korea-headquartered firm last month

  
Image used for illustrative purpose only. An investor works on his computer on the trading floor of the Muscat Securities Market (MSM) in the Commercial Business District of Ruwi in Muscat

Image used for illustrative purpose only. An investor works on his computer on the trading floor of the Muscat Securities Market (MSM) in the Commercial Business District of Ruwi in Muscat

REUTERS/STR New

Jabreen Capital, the private equity arm of Oman’s Ominvest, is set to increase its exposure to South East Asian markets followings its acquisition of a significant stake in EastBridge Partners Singapore – an independent private equity firm headquartered in Seoul.

“We have acquired a 43% stake in EastBridge Partners Singapore,” Anwar Al Jabri, CEO at Jabreen Capital, told Zawya by email.

Jabreen Capital was established in 2015 and began making investments in 2018, focusing on non-cyclical sectors in local and international markets. It currently manages a portfolio worth around $700 million. Investments made thus far include businesses in the financial services, industrial and education sectors.

EastBridge Partners Singapore manages over $500 million of assets value spread across three funds. Its focus is primarily on Indonesia, Malaysia, Singapore, Thailand, Vietnam and Philippines.

Al Jabri told Zawya that EastBridge focuses on mid-market investments and targets proprietary transactions, “an area where the team (at Jabreen Capital) has a substantial competitive advantage due to their longstanding experience, network and reputation in the market”.

“The South East Asia market is particularly attractive for a variety of reasons, including favourable demographics, a growing middle class, as well as its proximity to major markets,” Al Jabri said.

“Our current focus for South East Asia is in non-cyclical growth sectors,” he added.

In a press release sent to the media last week, Sheikh Khalid Abdullah Al Khalili, chairman of Jabreen Capital said that the partnership would “support Jabreen’s long term vision of diversifying its portfolio and expanding into the global market”.

Jabreen Capital owns stakes in Bank Muscat (9.99%), Ahli Bank (8.4%), International General Insurance Holdings (20%), Al Ahlia Insurance Oman (24.3%), Takaful Oman (18.1%), Modern Steel (19.5%), Gulf Acrylic and Shamal Plastic (15%), Horizon School (15%), School of Modern Skills (15%), Ominvest (24%), Bank Nizwa (5%) and HappyCall (5%).

(Reporting by Gerard Aoun; Editing by Michael Fahy)

(gerard.aoun@refinitiv.com)

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© ZAWYA 2019

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