The Global Buyout Fund managed by Kuwait-based Global Investment House has been named fund of the year in the area of private equity investments by conference organiser Terrapinn at a cere
The Global Buyout Fund managed by Kuwait-based Global Investment House has been named fund of the year in the area of private equity investments by conference organiser Terrapinn at a ceremony in Dubai.
Global executive vice-president Omar M. El-Quqa was presented with the award by business author and consultant Joseph Divanna, who cited the fund’s role in the development of the regional capital market thanks to its structure, investment strategy and the size of capital.
The fund, which was launched in March this year and has a minimum investment size of USD5m, invests in management buyouts, public and private transactions, spin-offs by family groups as well as privatisation deals. It is targeting an annualised rate of return of at least 20 per cent
‘This award is a recognition of the role played by Global in the region’s capital market and specifically in the management of private equity funds,’ El-Quqa says, noting that the Global Buyout Fund is the first from the Gulf Co-operation Council region to be offered to the international markets and is being distributed to institutions in Asia, Europe and North America by Bear Stearns International and JP Morgan Cazenove.
Global manages four private equity funds with aggregate assets under management of some USD1.5bn. The private equity team at Global has completed a total of 44 investments in the Gulf region, other parts of the Middle East and North Africa including Turkey, India and China.
Global Investment House, an investment company incorporated in 1998 and listed on the Kuwait, Bahrain, and Dubai stock exchanges, has branches and affiliates in Abu Dhabi, Bahrain, Dubai, Jordan, Qatar and Sudan, and had assets of KWD2.35bn (USD8.4bn) under management at the end of September.
