Hossam Shobokshi, the ex MENA Head of Private Equity at Standard Chartered Bank, has launched Alef MENA Value Fund as part of Alef Capital, a Cayman Island based investment management firm.
Their full release follows
Alef Capital, the Cayman Island based investment management firm headed by Hossam Shobokshi the ex MENA (Middle East North Africa ) Head of Private Equity at Standard Chartered Bank, launched Alef MENA Value Fund - as the first MENA focused value fund.
"The MENA markets offer some of the most interesting value investment opportunities in the world today. There are a good number of well managed and positioned companies trading at good discounts of the possible range of their fair values," states Shobokshi, a Saudi national with substantial investment experience across the Middle East and North Africa region.
Alef Capital stated approach is to ignore macro market predictions as well as technical analysis and focus on the well proven method of value investing.
"Alef Capital keeps things simple. The focus is solely on two things and only on two things - quality of the company and the price we pay for it. Recently for instance - we are experiencing what we call ''the GCC Shopping Festival''. We are actively buying securities of several well managed and well positioned businesses in the UAE and other GCC countries that are trading at substantial discounts. The abundance of value opportunities in the GCC is a relatively recent phenomenon as in the past couple of years good value opportunities in the MENA region were only available in the North Africa and Levant markets," commented Shobokshi.
Alef MENA Value focuses on partnering with investors that exhibit demonstrable business acumen and experience, a heritage of ethics, modesty, and long term patience. "We, at Alef Capital, are truly blessed that Alef MENA Value has commenced having some of the most reputable and successful business families from Saudi Arabia , Egypt , and Lebanon to form the initial cornerstone investors as well as serving as the core board members. We will forever be indebted to them for the support and trust," stated Shobokshi.
"It is almost as if Alef Capital has created a new and unique asset class all together here. It is an asset class that sits exactly between public and private equity - we call it Private Public Equity. We truly combine the best of both worlds. From the public equities world we follow: low fees, better transparency, simple structures, and relative liquidity and from the private equity world we adhere to: a focused portfolio, low turnover, solid knowledge of the underlying businesses, and potential relative influence on the portfolio companies as a result of having meaningful ownership stakes. Think about all the major wealth that was created across the globe - it was almost never built by investing in 30 companies at the same time. Rather, it was a few solid concentrated investments that counted the most with individuals, families, and firms that stayed the course and compounded the investment and created wealth. We are simply replicating that in an institutional and structured manner with focus on the MENA region," concludes Shobokshi.
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