Iran-based financial services group Turquoise Partners is launching an Iran-focused private equity fund in partnership with REYL Finance (MEA) Ltd, REYL & Cie’s Dubai based entity.
The new fund will be broadly focused on the rise of the Iranian consumer and will include, but will not be limited to, consumer goods, pharmaceuticals and hospitality. It aims to raise USD200 million in the first six months of the year.
Rouzbeh Pirouz, chairman of Turquoise Partners, says: “Iranian companies are in great need of investment which can drive opportunity and financial restructuring that will allow them to realise tremendous potential.”
Iranian companies are more often than not suffering from ineffective management and are in great need of investment, we hope that this fund will allow this opportunity for companies to be turned around.”
Pasha Bakhtiar, Partner & CEO of REYL Finance (MEA) Ltd, says: “We believe this venture provides an excellent opportunity for international investors looking to gain exposure to the Iranian growth story. Turquoise and REYL together bring a robust, thorough and diligent understanding on how to invest in Iran under the new economic environment, and we are extremely excited to be the first private equity vehicle for an international investor base.”
Turquoise manages more than 90 percent of all existing foreign portfolio investment on the Tehran Stock Exchange (TSE). The group operates across four core areas: investment management, brokerage, corporate advisory and private equity/venture capital.
REYL Group is an independent banking group with services in Wealth Management, Asset Management, Corporate & Family Governance, Corporate Advisory & Structuring and Asset Services. The Group manages assets of over CHF11 billion.
Ramin Rabii, chief executive of Turquoise Partners, says: “Turquoise has a track record of over ten years investing in Iran, identifying the best businesses opportunities in the country, closing deals and managing the turnaround of companies. This is Turquoise’s competitive edge. We are the only Iranian group that has been active in the private equity market prior to the removal of sanctions.”
