November 2, 2010
Global Capital Investments launches Iraq fund
Private investment fund Global Capital Investments has today announced the launch of the new fund which seeks to profit from the opportunities offered by the Iraq region.
The Iraq Fund will primarily invest in listed equities of the Iraq Stock Exchange (ISX) and will allocate up to 20% in private, less liquid, early-stage investment opportunities that focus on the country’s infrastructure and natural resources. Global Capital Investment will act as general partner of the fund.
“As Iraq’s economy strengthens, inflation becomes more manageable and the economy expands, currency appreciation will result in the appreciation of all Iraqi capital investments,” said managing director Abraham Merchant in a statement.
The firm predicts significant future growth in Iraq, noting that the country’s current market cap is $3.5bn, or 3.5% of its $100bn GDP, compared to the market caps of its neighbouring Gulf Cooperation Council (GCC) regions, which currently stand at an average of 70%-100% of GDP.
"Only a fraction of Iraq's known fields are in development while 80% of the country remains unexplored,” said Kenneth Kuhn, also a managing director. “As redevelopment progresses, it will further strengthen the overall economy for the Iraqi people.”
http://www.hfmweek.com/news/600167/global-capital-investments-launches-iraq-fund.thtml
Global Capital Investments launches Iraq fund
Private investment fund Global Capital Investments has today announced the launch of the new fund which seeks to profit from the opportunities offered by the Iraq region.
The Iraq Fund will primarily invest in listed equities of the Iraq Stock Exchange (ISX) and will allocate up to 20% in private, less liquid, early-stage investment opportunities that focus on the country’s infrastructure and natural resources. Global Capital Investment will act as general partner of the fund.
“As Iraq’s economy strengthens, inflation becomes more manageable and the economy expands, currency appreciation will result in the appreciation of all Iraqi capital investments,” said managing director Abraham Merchant in a statement.
The firm predicts significant future growth in Iraq, noting that the country’s current market cap is $3.5bn, or 3.5% of its $100bn GDP, compared to the market caps of its neighbouring Gulf Cooperation Council (GCC) regions, which currently stand at an average of 70%-100% of GDP.
"Only a fraction of Iraq's known fields are in development while 80% of the country remains unexplored,” said Kenneth Kuhn, also a managing director. “As redevelopment progresses, it will further strengthen the overall economy for the Iraqi people.”
http://www.hfmweek.com/news/600167/global-capital-investments-launches-iraq-fund.thtml
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