Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

India?s Sage Capital to launch $1b fund in GCC and Africa  Join our daily free Newsletter

MENAFN - Khaleej Times - 23/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) India-based private equity firm sage capital said on thursday that it would launch funds with a corpus of around 1 billion targeted at the gcc africa and india markets in the second half of 2014.

the fund will seek to invest in real estate projects across the middle east and north africa and also in small- and medium-sized companies that have the potential to be regional leaders regardless of the stage of their growth.

speaking to khaleej times manish kanchan founder of sage capital said the middle east region offers a unique combination of scaled-up economies strong gross domestic product growth low inflation positive current account balances and robust state finances that together grant relatively better immunity from global imbalances and macroeconomic risks.

“the gcc alone with a gdp of over 1.5 trillion has an economy that is almost as large as india and growing at four to five per cent with low inflation of two to four per cent. saudi arabia and the uae are the largest economies in the region but kuwait and qatar at around 200 billion also offer scalable opportunities. egypt iraq and iran could blossom into attractive markets if the geopolitical issues are effectively addressed” he said. kanchan said there is significant interest among middle east-based investors for indian private equity funds and fund managers.

“they see a clear advantage in backing indian fund managers targeting investments in the middle east given their experience of partnering with companies that operate in a much more challenging regulatory and business environment in india” kanchan said.

several large middle east-based limited partners have been investing with indian general partners both in conventional private equity and real estate. they include gulf investment corporation the abu dhabi investment authority and the qatar investment authority.

kanchan said the region was in a phase of transition as nations de-risk their economies by diversifying away from oil exports and witness surging domestic consumption and investment. besides non-oil growtis also considered critical to bolster employment creation and address demographic challenges.

“while the gcc’s oil growth will be flattish going forward non-oil growth is expected to boost gdp growth and expand at five to seven per cent annually. economic activity will continue to be driven by construction and trade spurred by high public infrastructure spending and rising private sector credit.”

kanchan said real estate is an obvious beneficiary of this trend as are companies operating in sectors such as construction banking and finance. private consumption-led sectors will also see considerable traction as the per capita incomes in the region are already comparable to india’s.

“private equity funds can capitalise on this opportunity by partnering with real estate developers and small- and mid-sized enterprises” he said.

there is a lot of excitement and anticipation with regards to dubai’s hosting of expo 2020 together with the 2022 fifa world cup in qatar which many believe could fundamentally reshape the way business is done in the region he observed.

quoting estimates kanchan said dubai expo 2020 is expected to add in excess of 20 billion to the uae’s gdp over the next five to six years and potentially give a major fillip to the overall growth in the region as a whole. the government is believed to have allocated 8-10 billion for the investment leading up to the event that will have a cascading effect on private investment as well.

“expo 2020 will throw up numerous opportunities in infrastructure logistics construction real estate hospitality and tourism energy and utilities and banking and finance. the sheer scale of funding requirements and the resultant revenue potential will act as a magnet for private equity funds targeting the region” kanchan said.

he said enterprises from around the world are gravitating towards the middle east because it offers a large and growing market. moreover the region also ranks high on ease of setting up and conducting business.

— issacjohn?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 May 27 2016 - Qatar- Five key clashes in the Champions League finalThe Peninsula
(MENAFN - The Peninsula) The 2016 UEFA Champions League Final logo at the Piazza Duomo in Milan, Italy, on 26 May 2016. EPA/DANIEL DAL ZENNARO Madrid:Real Madrid face local rivals Atletico Madrid ...

 May 27 2016 - Qatar- Al Shaqab students graduate at a glittering ceremonyThe Peninsula
(MENAFN - The Peninsula) Students who received equestrian training at Al Shaqab, pose for a photograph with special guests during their graduation ceremony after receiving their certificates ...

 May 27 2016 - Qatar- Four international players to continue with Al RayyanThe Peninsula
(MENAFN - The Peninsula) Ali Salem Afifa, Head of Football at Al Rayyan Doha: Following a successful local football season, Al Rayyan have secured the services of their four foreign players ...

 May 27 2016 - UAE plays vital role in development projects in JordanMENAFN
(MENAFN) Abu Dhabi Fund for Development (ADFD) and Jordan worked together towards achieving their sustainable development goals, supporting projects in fundamental sectors.Moreover, ADFD has funded ...

 May 27 2016 - Cairo USD 3.6bn residential project attracts foreign investmentMENAFN
(MENAFN) The Ministry of housing introduced Egypt's biggest upcoming project, USD 3.6bn Mountain View iCity, which will be launched in New Cairo.Furthermore, the project's main layout will encompass ...

 May 27 2016 - Qatar, Luxembourg trade relations growMENAFN
(MENAFN) Qatar and Luxembourg have viewed growth due to the exchange of official visits between the two sides and the signing of mutual deal on many areas.Moreover, Qatar sees innovation as a main ...

 May 26 2016 - Saudi- Living cost index in the Kingdom rises 0.2% in AprilSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- The index of the cost of living in the Kingdom rose by 0.2% during the month of April 2016 compared to the previous month ...

 May 26 2016 - Governor of Riyadh Region receives Cyprus' AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region, received here today the Ambassador of Cyprus to the ...

 May 26 2016 - Israeli warplanes launch raids on Gaza StripSaudi Press Agency
(MENAFN - Saudi Press Agency) Ramallah, 19 Sha'ban, 1437, May 26, 2016, SPA -- Israeli warplanes launched today a series of air raids on sites and targets in the Gaza Strip. Local security sources ...

 May 26 2016 - Saudi- Three dead, many injured in Mumbai chemical factory blastSaudi Press Agency
(MENAFN - Saudi Press Agency) New Delhi, Sha'ban 19, 1437, May 26, 2016, SPA -- At least three people have died and several have been injured in a huge blast at a chemical factory on the outskirts ...

more...


 





Google

Join Our Newsletter

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help