According to Shailesh Dash, Founder of Al Masah Capital, the company's core competence is centred on maximising investment opportunities in both, the long and short term scenarios.
Dash said, "I am delighted to take on this venture with my co-partner and other founding shareholders and bring my experience and track record to bear on what I plan to create a financial house that thinks out of the box and yet, is conservative enough to give its clients a strong and tangible comfort zone.
"The global economic crisis has adversely affected a large number of financial services firms across the globe and the same is true for the MENA region," Dash explained. "Consequently a number of them are either closing down or have lost their credibility in the market. This created a huge vacuum in the market for reputable and credible financial services firms handled by individuals who are recognised as trustworthy. From my viewpoint I see this as an opportune time to form a strong and vibrant alternatives asset management firm that can benefit from the apparent decline and bridge the gap that exists."
The company will be involved primarily in alternative asset management. This includes PE Funds, RE Funds and Hedge Funds. The same access will cover future MENA alternative funds and co-investment opportunities with the advantage accruing to regional investors. The company will primarily operate in the MENA region, but will consider opportunities internationally (South Asia and Turkey) where there exists potential for a synergy with the MENA region.
Dash said, "Based on the current market indicators, I believe the markets are going to exponentially improve in the next 12 to 18 months. The management company in DIFC will be ready to launch Funds by March/April 2010. I see us in a position to invest and capture the upside for our investors."
Joining him in the venture is Khalil E. Alaali as a Co-founder who will also be AMCL's Chief Placement Officer.