Iranian investment group Turquoise Partners is predicting a significant increase in foreign investor interest in the country in the wake of the lifting of UN, EU and US sanctions.
Sanctions on Iran were lifted on Saturday 16 January paving the way for key sectors of the country’s economy, including banking, to resume commercial relations with the European Union.
Turquoise currently manages more than 90 per cent 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.
Rouzbeh Pirouz (pictured), executive chairman of Turquoise Partners, says: “The Iranian market holds tremendous potential. At this historic moment when the Iranian economy has become accessible to global investors, Turquoise is ready to advise and guide intelligent investment into the country.”
Its Asset Management division offers an equity fund tailored specifically for foreign investors, which initially launched in 2006. The fund invests in liquid public companies in the TSE and the Iran Farabourse: the over-the-counter market for securities. Turquoise launched a domestic fund in 2010, for local investors; this fund was the best performing in Iran in 2014.
Turquoise and Charlemagne Capital, the Emerging Market Asset Management Group, have formally launched the Turquoise Variable Capital Investment Fund. The institutional Fund invests exclusively in the Iranian securities markets. The fund is jointly advised by Turquoise Partners and Charlemagne Capital and is domiciled in Cyprus.
The group’s Turquoise TSE 30 Index ETF was the first Index linked Exchange Traded Fund (ETF) to be offered in Iran. It tracks the TSE30 index, which is comprised of the 30 largest, blue-chip companies on the TSE, primarily within the banking, mining, metals and chemicals sectors.
Ramin Rabii, chief executive of Turquoise Partners, says: “Having established itself during the most difficult times, Turquoise is exceptionally well positioned to grow alongside Iran now that the country is investable.”
Firouzeh Asia, the group’s brokerage division, is the market leader in respect to foreign investment & execution, and the provision of English language market research, news and analysis.
Turquoise is the only Iranian financial services group to have a significant track record in private equity investing and currently manages two listed private investment vehicles IDIC and Iran Credit Investment Company. Transactions have included investments in real estate, financial services, fast-moving consumer goods (FMCG), in addition to technology based venture capital, a fast growing sector in Iran.
Turquoise’s corporate finance team has 10 years of transaction experience on the ground in Iran and an extensive network of partnerships with international investors and leading global advisory firms.
The team, based locally and in London, offers a full suite of advisory services including mergers and acquisition advisory, restructuring, market entry and capital raising services to international clients seeking to enter the Iranian market.
Turquoise was founded in 2005 and is led by chairman Rouzbeh Pirouz. Turquoise produces a monthly electronic newsletter "Iran Investment Monthly" which provides the latest news on Iran’s financial market and economy in English.
