Shuaa Partners closes 'Frontier Opportunities Fund I, L.P.'

Shuaa Partners Ltd, the private equity arm of Shuaa Capital psc, today announced the close of its 'Frontier Opportunities Fund I, L.P.' (the 'Fund') with total commitments of $100m.

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The objective of the Fund is to provide its limited partners with long-term capital appreciation through select equity investments in both existing and start-up businesses in the Levant region.

The Fund will have a four-year investment horizon and its focus will be on Syria, but it will also consider investments in Lebanon and Jordan. The fund will target both existing and new opportunities in the telecommunications, financial services, real estate and hospitality sectors, but will also consider investing in other sectors on an opportunistic basis.

'With recent economic growth picking up, clear liberalization trend, a young and growing population, and under-investment for the past three decades, Syria represents an early investment opportunity. Over the last few years, Syria has attracted significant foreign investment commitments from neighboring and GCC countries. Several large projects have been announced in industries ranging from building materials, to oil refineries, real estate and financial institutions. Syria has demonstrated its progress in its ability to encourage the capital inflows, and our investors wanted to allocate a small part of their portfolios to have an exposure at what could potentially prove to be a very high growth market,'



said Mr. Iyad Duwaji, Chief Executive Officer of Shuaa Capital and Chairman and founder of Shuaa Partners.

'This is a unique opportunity and the first ever such product that allows its investors a professionally managed exposure to a country that has not yet been targeted by a wide range of investors before. We are well positioned to attract and execute transactions in Syria given our first-hand knowledge of the country and our first-mover advantage,' added Mr. Duwaji.

The Fund has already deployed capital by investing in Syriatel the leading GSM operator in Syria with over 55% market share, 2.8 million customers, and a low penetration rate by regional standards. It is also understood that the Fund is considering partnering with UAE companies to set up in Syria.

Shuaa Partners is regulated by the Dubai Financial Services Authority ('DFSA') and is incorporated in the Dubai International Financial Centre ('DIFC') as Shuaa Partners Ltd.

http://www.ameinfo.com/141029.html