Global's Private Equity Team receives "Fund of the Year" and "Middle Market Deal of the Year" awards from Terrapin

The first award went to Global MENA Financial Assets Limited (GMFA) under the category "Fund of the Year" in recognition of its structure, investment strategy and the size of its capital.

The second award was for the Al Sawani Food and Industrial Supply Company deal under the category of "Middle Market Deal of the Year" due to its dynamic business model and vision, deal genesis, value addition and the array of market opportunities.

Mr. Amitava Ghosal, Assistant Vice President at Global and Mr. Nrupaditya Singhdeo, Assistant Vice President at Global received the awards from the media foundation "Terrapin" during the Private Equity World Awards- MENA 2008 Ceremony held at the Al Murooj Rotana Hotel, Dubai on November 18th, 2008.

The Foundation granted Global the awards in recognition of Private Equity's role in the development of the regional capital market as reflected in its innovative and offering an array of opportunities in investing in buyout and growth opportunities across the MENA including Turkey and South Asia.

This year has been an eventful year for Global's Private Equity Team as the team set up a private equity permanent capital vehicle, Global MENA Financial Assets Limited (GMFA), focusing on the high growth financial sector of the MENA including Turkey. Its investment size is $500m, and has an average investment size of about $30m to $50m across 10 to 15 companies.

GMFA is the first permanent capital vehicle from the MENA region to be listed on the London Stock Exchange which invests in private equity assets. GMFA has a high growth diversified seed portfolio of financial market assets worth $272.3m transferred at $238.8m, translating to an attractive discount of over 12%.

Mr. Shailesh Dash, Senior Vice President and Head of Alternative Investments at Global stated, "Even in the current market conditions, especially for the financial services sector, GMFA's IPO was subscribed more than 100% with interest from both the European and Middle Eastern investors. European investors primarily included financial institutions and pensions funds, while the latter's interest came from business conglomerates and sovereign backed funds".

The Foundation also granted Global's Al Sawani Food and Industrial Supply Company deal the award under the "Middle Market Deal of the Year". Established in 1976, Al Sawani is a forerunner in regional retail, and is among the first GCC businesses that adopted the franchising model. Al Sawani boasts 550 stores in the MENA region, and has built an impressive portfolio of 36 international brands, as well as its own private label brand.

About the company's growth, Mr. Dash commented, "Al Sawani is planning to expand its store network, brand portfolio, and increase its penetration in the Middle East. Global's Private Equity Team believes that with the favorable macroeconomic scenario, young population, changing lifestyles, and an increase in consumer spending, the Fashion Retail Sector is poised for sizeable growth.

Mr. Dash concluded:

"These awards are a recognition of the role played by Global in the region's Private Equity Market, and portrays the Team's commitment to the investments and handholds its portfolio companies to achieve its vision."