Samena Capital, an investment management group focusing on principal investments on the Subcontinent, Asia, Middle East and North Africa has raised $200 million for its debut Samena Special Situations Fund and targets a $350 million final close by the end of October 2008.
The firm intends to launch further close and open ended funds, and buy stakes in other asset management platforms in India and Japan and is looking at setting up of a team across Asia. It has also earmarked $50 million to pursue its “buy and build” strategy in this direction. It is looking at opening its office in Mumbai by the end of this year.
Shirish Saraf, President and founder of Samena Capital (former co-founder and Managing Director of Abraaj Capital) said “the firm is global in size and scale at the outset and aims to be a catalyst for increasing cross border investment within the SAMENA region.”
Atul Punj, Chairman of Punj Lloyd, one of India’s leading engineering construction companies, and Chairman of Samena Capital said, “These are exciting times as transfer of wealth accelerates from West to East creating a host of new opportunities for global investors.”
V-Nee YEH, a founding shareholder and Director of Samena Capital and Chairman of one of Asia’s largest asset management institutions Value Partners Group Limited, and Chairman of Argyle Street Management and Cheetah Investment Management said, ” Samena’s business model resonates with the desire of top business leaders and institutions to work together to revive the value proposition of the old silk route.”
Samena Capital will be headquartered in Bahrain, its FSA regulated investment advisor has an office in London and intends to establish a presence in Hong Kong, Mumbai and Tokyo before the end of 2008. Among Samena Capital’s founding shareholders are: Mr. Shirish Saraf, Mr. Arif M. Naqvi, Mr. Samir J. Fancy, Mr. Ramiz Hasan, Sheikh Ziad Abdul Rahman Al Turki – ATCO Group, Kingdom of Saudi Arabia, H. E. Sheikh Nawaf Nasser Bin Khahd Al Thani – NBK Group, Qatar, Sheikh Kamal Bahamdan – Bahamdan Group, Kingdom of Saudi Arabia, Mr. Atul Punj – Punj Lloyd, India, Mr. V-Nee Yeh, Mr. Gratian Anda – IHAG Holdings, Zurich, Mr. Colin Rutherford, and Mr. Simon Wong.