Dubai: Al Masah Capital Limited (AMCL), a new alternative asset management company which started operations in Dubai in January, is in the process of launching two new funds, Shailesh Dash, the company's chief executive told Gulf News.
AMCL is a Cayman limited liability company, currently setting up a management company at the Dubai International Financial Center (DIFC).
The company is primarily focused on alternative asset management, which includes private equity, real estate and hedge funds with a focus on the Middle East, North Africa and South Asia (Menasa) region.
AMCL's first fund is a $200 million (Dh734 million) Special Opportunities Fund, a multi-strategy fund that will invest in Mena's undervalued equity markets, in addition to IPOs in Hong Kong and India.
"The investment strategy for this fund will be event-driven and opportunistic. The primary assets of the fund will constitute listed equities from [the] Mena region and initial public offerings from Hong Kong and India," Dash said.
The multi-strategy fund denominated in dollar has a fund life of two years, while the average investment period will be 12 months with a target internal rate of return (IRR) of 35 per cent and a hurdle rate (the minimum rate of return required before the profits are shared) of 12 per cent.
AMCL is also launching a private equity fund focused on growth capital in the Menasa region.
Al Masah Growth Capital will invest in both private and public companies with a minimum 50 per cent of the funds invested in Social Infrastructure such as education, health care and such.
The $500 million fund will have a fund life of seven years and will have an IRR of 25 per cent.
