Global Capital Management, the private equity group of Global Investment House, has announced that Global Opportunistic Fund II, a pre-IPO and IPO fund, has made significant gains from
Global Capital Management, the private equity group of Global Investment House, has announced that Global Opportunistic Fund II, a pre-IPO and IPO fund, has made significant gains from sale of shares in Reliance Petroleum in India.
Shailesh Dash, managing partner at Global Capital Management (pictured), says: ‘The fund was one of the top ten investors along with Chevron, Deutsche Bank, Citigroup, and Fidelity in Reliance Petroleum Limited. We have been liquidating our position in tranches to optimize our returns and I am happy to state that we have achieved an IRR of more than 70 per cent on this transaction and a multiple of 1.84x.
‘The strategy of GOF II has always been to maintain some liquidity in the investment portfolio so that we can give our investors regular returns. The proceeds from this transaction will also be returned to the investors to ensure liquidity even in the current times.’
GOF II, a private equity fund managed by Global, invests in pre-IPO and IPO opportunities in the Mena region as well as India, China, Pakistan and Turkey.
It seeks capital appreciation with optimum returns, within controlled levels of risk, over the medium to long term by investing in IPO and pre-IPO issues in the target countries. The fund is now fully invested across ten investments and has exited four investments at IRRs between 40 per cent and 350 per cent. The fund’s investments span ten different sectors including healthcare and more than 30 per cent of the fund is also invested outside the region.
