KUWAIT: Global Investment House (Global), a regional Asset Management and Investment Banking firm headquartered in Kuwait with offices in major capital markets in the MENA region, announced yesterday that Global MENA Financial Assets, a fund managed by its Private Equity Asset Management team has distributed around GBP 12.1 million (equivalent to $15 million), which resulted from the sale of its majority stake in Jordan Trade Facilities, a consumer finance company operating in the Hashemite Kingdom of Jordan and accumulated dividends of its portfolio companies to its investors.

This amount raised the total amount distributed by the Private Equity Funds to around USD583 million since inception in 2003. Such distribution is considered one of the highest among Private Equity firms within the region. Another fund managed by the Private Equity Asset Management team also planning to distribute KD 2.0 million (equivalent to $6.5 million) in April 2017, being proceeds from the sale of its minority stake in Al Razzi Holding, an educational and healthcare holding company. The sale was achieved through a consortium transaction.