 Private Equity Funds |
BM-CSAM Private Equity Fund LP
In 2001 Bank Muscat successfully launched the BankMuscat-CSAM Private Equity Fund LP. The fund provided access to 6 top quartile private equity funds and helped investors diversify their commitments. The fund is 90% drawn down and has so far already returned more than 100% of capital to investors.
BM Private Equity Fund II LP
Launched in 2006, the BankMuscat Private Equity Fund II LP provides investors with the opportunity to invest in a diversified portfolio of premier private equity and venture capital funds. The fund has drawn down 65% of capital till date (August 2008).
| Real Estate Fund |
Oman Integrated Tourism Projects Fund LP
● BankMuscat launched Oman’s largest real estate focused private equity fund raising USD 258 million in 2007. Oman Integrated Tourism Projects Fund provided investors with an opportunity to invest in Omani real estate sector.
● BankMuscat, as the Fund’s Investment Manager, is responsible for providing investment and strategic advice to the Fund. The fund weathered the financial crises and the resultant impact on Oman’s real estate sector well; the fund’s strategy of remaining in cash avoided substantial value erosion for its investors.
● Subsequently, the fund committed to 3 investments over 2009 and 2010 with an investment outlay of ~USD 100 million. The fund is committed to invest in green-field and under construction project opportunities by partnering with real estate developers/promoters through structured investments including capital protection and preferred returns to realize the target returns for the fund’s investors. The investment structures ensure that interests of the fund and its development partners are aligned. The exit strategy for each investment is based on well defined principles agreed with development partners. The principles agreed lend flexibility to the fund to time exits on opportunistic basis and incentivizes the development partner to ensure its implementation. The fund has been successful in partially exiting from one of its investment realizing attractive returns much in excess of the targeted returns.
Key Fund Terms/ Features:
Registration: Cayman Islands
Term: Close ended 7 years extendable by 3 single year periods
Fund Manager: BankMuscat SAOG
International Legal Counsel: Cleary Gottlieb Steen and Hamilton LLP Disclaimer |