Tue, Mar 3, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Qatar Insurance Company backs Lagoon Capital to set up MENA private equity house

Monday, November 25, 2013
Opalesque Industry Update - Lagoon Capital Partners Limited (“Lagoon Capital”), a private equity and advisory firm based in the Dubai International Financial Center and regulated by the Dubai Financial Services Authority, and HarbourVest Partners L.P. (“HarbourVest”), one of the premier global institutions focused on secondary private equity, have entered into an agreement for secondary private equity whereby they will jointly source, evaluate and invest in private equity assets held by investors from the MENA region.

This will enable Lagoon Capital, which is backed by Qatar Insurance Company, to combine its regional relationships and investing expertise with HarbourVest’s 25+ year track record in evaluating, structuring and investing in secondary private equity portfolios globally.

The strategic relationship is focused on assets in the MENA region or sourced from investors in the region. The opportunities may include the acquisition of LP commitments in private equity funds, the purchase of portfolios of direct private equity investments, spin outs from existing private equity platforms and facilitating the restructuring of underperforming private equity funds.

Anuj Khanna, CEO of Lagoon Capital said, “Regional investors have been important players in the private equity asset class globally, however, many investors need to reposition their portfolios or exit positions entirely due to financial, strategic or regulatory considerations. To date, due to the lack of development of a secondary private equity market in the region, exits have been challenging. Our focus is to provide discrete and comprehensive liquidity solutions to our counterparties for their regional and global assets and, at the same time, help the natural and necessary evolution of the secondary market, which will in turn strengthen the appeal of private equity in the region as an asset class relative to other sources of capital.”

David Atterbury, Managing Director of HarbourVest, added, “We are keen to bring our secondary investing expertise to the MENA region. As has been the case in the US and Europe, secondary market activity has played a critical role in the growth of private equity through market cycles. Much like other regions, the MENA market also stands to benefit greatly from the entry of global secondary players and we're pleased to join together with Lagoon Capital to support this development. Lagoon’s regional experience, reputation and connectivity will enable us to jointly pursue opportunities to the benefit of all stakeholders. Our most recent secondary fund, Dover Street VIII, with US$3.6 billion of capital will be the primary source of funds for these initiatives.”

Sunil Talwar, Deputy CEO of Qatar Insurance Company, also commented, “We are delighted that Lagoon Capital and HarbourVest have entered into this agreement for the MENA region. We believe their combined expertise and focus on Secondaries will provide regional investors a compelling alternative to achieving liquidity on their portfolios, while also freeing up capital for new investment opportunities.”

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  2. Investing - As rig count falls, hedge funds pile into long crude futures, Parus tactically shifts long/short exposure ratios, Mario Draghi outflanking Kuroda as bearish euro bets surge, Prime Capital’s 500.com bet derailed after 41% drop[more]

    As rig count falls, hedge funds pile into long crude futures From 247wallst.com: In the week ended February 27, the total number of rigs drilling for oil in the United States came in at 986, compared with 1,019 in the prior week and 1,430 a year ago. Including 281 other rigs mostly drill

  3. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie