Tue, Feb 20, 2018
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. Chenavari, a $5.4bn hedge fund, told investors it thinks 'we could experience a similar pattern as the 1987 crash'[more]

    From Businessinsider.com: A $5.4 billion hedge fund told clients markets could tumble just like they did in the 1987 crash. In a February 14 letter to clients, London-based Chenavari Investment Managers warned about current market conditions. From the letter (emphasis added): "Our view is that

  2. Investing - Hedge fund Bridgewater makes $22 billion bet against European firms, Hedge funds Steadfast and Suvretta jump onto CSX in fourth quarter, Tepper's Appaloosa boosts Apple, Facebook as others bolt, Third Point buys Netflix and MGM, dumps Bank of America, Moore Capital bought Wynn Resorts, other casino stocks before Steve Wynn resigned[more]

    Hedge fund Bridgewater makes $22 billion bet against European firms From Reuters/USNews.com: Bridgewater has shown its hand in Europe with a $22 billion bet against some of the continent's biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world's largest

  3. Funds Profiles - Brother-run hedge fund up 46% in 2017 says Kelly formula shows diversification is flawed, How a 6,000% profit on a single trade saved a small hedge fund from disaster[more]

    Brother-run hedge fund up 46% in 2017 says Kelly formula shows diversification is flawed From Valuewalk.com: When Jeremy and Michael Kahan consider the notion of diversification, the wince. With a return of 45.8% to end 2017, their stock-picking fund, North Peak Capital, successfully

  4. Investing - Hedge funds hook shipping stocks grappling for recovery, Small cap hedge funds offer alternative for cannabis investing, Top stock-picking hedge funds love gaming, health care and media shares, Hedge funds Steadfast and Suvretta jump onto CSX in fourth quarter[more]

    Hedge funds hook shipping stocks grappling for recovery From Hellenicshippingnews.com: Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial f

  5. Art & Motion launches collectible car alternative investment vehicle[more]

    Komfie Manalo, Opalesque Asia: Luxembourg-based Art & Motion has launched a new investment vehicle dedicated to vintage cars and exceptional high-quality vehicles as this collectible market has grown exponentially the turn of the centu