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Gulf Bank Launches Indian Private Equity Fund

Nick Parmee

29 May 2008

National Bank of Kuwait has launched its first investment fund in Indian private equity. Salah Al Fulaij, chief executive of NBK Capital, said that the fund will offer private banking clients the opportunity to privately invest in Indian companies through a group of the best investment managers on a local and international level.

The fund has been set up to achieve long term capital growth by making indirect private equity investments in companies in India and in other countries in Asia. It aims to build a balanced portfolio spread across various investment funds covering different sectors, as well as different "vintage" years.

The fund will follow two main strategies: first, investing in high quality private equity funds and second, investing in mature private equity funds that are listed on a secondary market.
 
The fund is denominated in dollars and  closed-ended, with a 10 year term and the possibility of extending the term for two additional one-year periods.