Global Capital Management’s Global Opportunistic Fund I is declaring a distribution, primarily derived from a combination of gains from divestment as well as dividends from portfolio companies.
Post this distribution, the aggregate amount distributed to date would be approximately 30 per cent.
The private equity fund managed by Global invests in late stage private equity opportunities within GCC.
A significant portion of the distribution was generated from partial divestment of DEPA during the current and the last quarter at an IRR of more than 22 per cent on the transaction for the fund.
The other bulk of the distribution comes from dividends received from portfolio investments – Gulf Healthcare International, DEPA and Gulf Navigation.
Shailesh Dash (pictured), managing partner at Global Capital Management, says: “The fund was one of the initial and leading investors in DEPA. We have been liquidating our position in tranches to optimize our returns and I am happy to state that we have attractive net return to GOF I.”
DEPA has reported a 40 per cent increase in revenues and 21 per cent increase in net profits for fiscal 2008 compared to fiscal 2007.
GOF I is now fully invested across 23 investments and eight of these are listed.
