21 March 2017

Global distributes USD15mn to its clients investing in its private equity funds & plans further distribution of USD6.5mn

Global announced that Global MENA Financial Assets, a fund managed by its Private Equity Asset Management team has distributed around GBP 12.1 million (equivalent to USD15 million), which resulted from the sale of its majority stake in Jordan Trade Facilities, a consumer finance company operating in the Hashemite Kingdom of Jordan and accumulated dividends of its portfolio companies to its investors.

This amount raised the total amount distributed by the Private Equity Funds to around USD583 million since inception in 2003. Such distribution is considered one of the highest among Private Equity firms within the region.


Another fund managed by the Private Equity Asset Management team also planning to distribute  KWD 2.0 million (equivalent to USD 6.5 million) in April 2017, being proceeds from the sale of its minority stake in Al Razzi Holding, an educational and healthcare holding company. The sale was achieved through a consortium transaction.


Sulaiman Al Rubaie, Head of Alternative Asset Management commented: “It is another important milestone for our Private Equity team and a result of years of hard work and dedication. These distributions prove our ability to generate successful exits in such subdued capital market volumes, also it shows our commitment to return cash to investors and adopt the strategy and road map communicated earlier with our clients.”


Al Rubaie concluded: “Our new strategy adopted has paid back. Through a more active involvement with our portfolio companies, value creation within our portfolio companies, and creation of sellers’ consortiums, we were able to grow our portfolio companies’ operational profitability and maximizing the exit values.”

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