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MENA Small & Medium Enterprise Fund 1
Offering Size: USD 80 Million
Country: Middle East & North Africa Region
Sector: Investment Funds
Year: 2006
This USD 80 million Fund, established in 2006, and whose portfolio includes Challenger Limited, JAFCCO and ITWorx Limited, has performed extremely well since inception. At the end of 2008, the Fund’s Net Asset Value (NAV) per share stood at USD 65, an increase of USD 15 per share or 30% from the initial NAV.
This NAV growth was partially attributable to the acquisition of a 25% stake in Challenger Limited by Bronco Drilling Company at a significant value than the Fund’s cost, and a partial exit in JAFCCO of 7% to Arab Mining Company. Distributions totalling USD 6.2 million were made to investors during the year.
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Offering Size: USD 80 Million
Country: Middle East & North Africa Region
Sector: Investment Funds
Year: 2006
This USD 80 million Fund, established in 2006, and whose portfolio includes Challenger Limited, JAFCCO and ITWorx Limited, has performed extremely well since inception. At the end of 2008, the Fund’s Net Asset Value (NAV) per share stood at USD 65, an increase of USD 15 per share or 30% from the initial NAV.
This NAV growth was partially attributable to the acquisition of a 25% stake in Challenger Limited by Bronco Drilling Company at a significant value than the Fund’s cost, and a partial exit in JAFCCO of 7% to Arab Mining Company. Distributions totalling USD 6.2 million were made to investors during the year.
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