SHUAA Partners Fund returns 7.6% IRR over its vintage period

02/07/2012 16:15 AST

SHUAA Capital, the leading regional financial services company, announced that it has successfully closed its SHUAA Partners Fund 1, yielding significant returns despite the tough market conditions. During the Fund's vintage period, from 2005 to 2012, public equity markets in the UAE (MSCI UAE Index) posted a decline of 78%.

Following the sale of two remaining investments, SHUAA Partners Fund 1 has generated an IRR of 7.6% over its investment period.

HH Sheikh Maktoum bin Hasher Al Maktoum, Executive Chairman, SHUAA Capital commented on this achievement: "We are extremely pleased that we have been able to exit the fund on a positive note and return excess capital to our investors. The SHUAA Partners Fund 1 has performed well, delivering solid returns over its seven year investment period. This is all the more pleasing, given the challenging market conditions in recent years."

SHUAA Partners Fund 1 was launched in 2005 to invest in regional companies, including investments such as Petrofac, Air Arabia, Drake & Scull and Rotana Hotel Management Company. Late last year, SHUAA announced that the Private Equity division would be managed by SHUAA Asset Management going forward. SHUAA Asset Management is the UAE's premier fund and portfolio manager.


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