DUBAI: Saudi Arabia will witness a massive growth within the next 12 to 18 months making it the best time to invest in Saudi Arabia, says Shailesh Dash, the founder of Al Masah Capital Limited, which made its entry in the field of Alternative Asset Management. He made this statement at the Fairmont Hotel while highlighting the company's plans to launch their first social-infrastructure focused fund in April 2010.
According to Dash, the company's core competence is centered on maximizing investment opportunities in both, the long- and short-term scenarios. AMCL, which has been incorporated as an exempted limited liability company under the provisions of the Companies Law (as amended) of the Cayman Islands, intends to take investment options to a more dynamic level and offer its client base a service that is unrivalled.
Dash has more than 16 years of experience in alternative investments including private equity and real estate, corporate finance advisory and research. He has been responsible for creating the 16th largest PE business in Asia (June 2009 PEI Asia Ranking) in the brief span of five years. Till recently, as the head of alternative investments for Global Investment House in Kuwait, he was managing various funds amounting to over $3 billion. Under his guidance the private equity business rose to become the No. 2 player in the region with offices in Riyadh, Cairo and Istanbul.
"The global economic crisis has adversely affected a large number of financial services firms across the globe and the same is true for the MENA region," Dash explained. "Consequently a number of them are either closing down or have lost their credibility in the market. This has created a huge vacuum in the market for reputable and credible financial services firms handled by individuals who are recognized as trustworthy. From my viewpoint I see this as an opportune time to form a strong and vibrant alternatives asset management firm that can benefit from the apparent decline and bridge the gap that exists."
Dash believes AMCL will offer unique access play for regional and international investors to the growing and untapped MENA region by being involved primarily in alternative asset management. This includes PE Funds, RE Funds and Hedge Funds.
The company will primarily operate in the MENA region, but will consider opportunities internationally (South Asia and Turkey) where there exists potential for a synergy with the MENA region.
Dash struck a note of high optimism for economic recovery by saying, "Based on the current market indicators, I believe the markets are going to exponentially improve in the next 12 to 18 months. The management company in DIFC will be ready to launch Funds by March/April 2010. I see us in a position to invest and capture the upside for our investors."
Joining him in the venture is regional veteran Khalil E. Alaali as a co-founder who will also be AMCL's Chief Placement Officer. Alaali is a skilled professional with more than 14 years of experience in the region. He has very strong relationships with local families and institutions in the region and successfully established and operated several private banking operations.