Mubasher: Global Investment House said that its Global Capital Management (GCM) has distributed $32 million to its clients investing in its private equity fund, Global MENA Financial Assets Limited (GMFA), according to a recent statement on Sunday.
The distributed amount, representing around 14% of the Fund's current Net Asset Value (NAV), was generated from successful exits from two portfolio companies, effectively managed and operationally transformed by the Private Equity Asset Management team of Global in line with other shareholders of the portfolio companies.
The first exit is from Asian Finance Bank, a boutique corporate bank in Malaysia while the second is from Bindar Trading and Investment, a leading consumer finance company in Jordan.
Global is a regional asset management and investment banking firm headquartered in Kuwait with offices in major capital markets across the Middle East and North Africa (MENA) region.
Zakir Rizvi, Partner at GCM said: “Through an effective involvement and value creation strategies, we were able to grow the portfolio companies and improve operational profitability. Both portfolio exits were executed at competitive multiples, thanks to the value creation, right timing, and effective exit strategies pursued by the GCM team.”
With this distribution, the total amount distributed to clients investing in GMFA reached $141 million and total amount distributed by the private equity asset management team reached $612 million to funds’ investors since inception.
