Samena Capital launches $700m special situations fund
Samena Capital has launched its second special situations fund with a target of $700 million. The company – whose name derives from the regions in which it invests: subcontinent, Asia, Middle East and North Africa – has already received commitments in excess of $350 million from anchor investors.
Samena Special Situations Fund II will follow the strategy employed by the first fund and build significant minority stakes in listed companies. Investments will be made through strategic block purchases, pre-negotiated deals and preferential issuance of equity. The first fund closed in May 2009 with total commitments of $180.5 million.
The Hong Kong-based private equity firm counts Sheikh Nawaf Nasser Bin Khalid Al Thani, chairman and CEO of Qatar's NBK Holding of Qatar, V-Nee Yeh, founder of Value Partners and chairman of Samena Capital, and Atul Punj of India's Punj Lloyd among its founder investors.
"We are the primary investment of some of the leading businessmen from the SAMENA region. This gives us a powerful foundation for future deal flow, value creation opportunities, generation of ideas and cross synergisation of business networks," says Shirish Saraf, vice chairman and CEO of Samena Capital.
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