It's funny when you read others say the same thing you have been...

It's funny when you read others say the same thing you have been saying but earlier; that's one for HC !!!

All I need now to be happy is a article about Deutsche Bank and investment into Sri Lanka!

Wait........

They have started to hit the presses!!!!

"Platinum sponsors for the event are Ceylon Guardian, Citi Bank and NDB Capital Holdings while the silver sponsors are Deutsche Bank, Hong Kong Shanghai Banking Corporation and Sampath Bank PLC. Bronze sponsor is Hatton National Bank PLC and Sri Lankan Airlines is the official airline partner."

All set for sri lanka’s second int’l capital market conference

http://www.dailymirror.lk/business/...as-second-intl-capital-market-conference.html

WOW that capital conference!


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Ironwood launches Sri Lanka's first private equity fund with US$ 30 million

http://www.colombopage.com/archive_14B/Sep27_1411828240CH.php


Sept 27, Colombo: Sri Lanka's Ironwood Capital Partners, a private equity firm has raised US$ 30 million for the first dedicated private equity investment vehicle for Sri Lanka post-2009, a press release said.


Ironwood said it aims to strengthen the national economy through key strategic investments and supporting the development of the private equity industry in the country,

Ironwood said it has assembled a global top tier team of professionals to manage these investments including Steven Enderby (Non-Executive Chairman, Investment Committee) who has almost 20 years of global private equity experience with CDC and Actis, including several investments in Sri Lanka, along with Mayank Parekh (Non-Executive Member, Investment Committee) who is a former head of McKinsey & Company in Singapore and a former General Partner of Southern Capital Group.

The two Managing Partners of the firm are Chanaka Wickramasuriya, a former Partner at Aureos Capital and country head of Fitch Ratings Sri Lanka and Hiran Embuldeniya who is a Director at York Street Partners and previously an investment banker at Goldman Sachs and a management consultant with McKinsey & Company.

The Ironwood team, supported by York Street Partners, a boutique investment bank in Sri Lanka, has raised US$ 30 million primarily from offshore investors who want to participate in the growth story of Sri Lanka. The private equity fund will focus on making investments of US$ 3-7 million in small- and medium-sized enterprises (SMEs) across a range of sectors and stages of maturity.

Ironwood is the first of its kind; a fund dedicated to the Sri Lankan economy since the end of the conflict in 2009. The Fund will give Sri Lankan firms access to much needed capital for growth and expansion, as well as leverage managerial, operational, strategic know-how and regional networks. It will also help strengthen corporate governance in these companies, the firm said in the release.

The fund will look for investment opportunities aligned with the five hubs strategy of the country, whilst addressing some of the biggest challenges facing SMEs today including, access to finance, improved back-office functionality, improved governance, and access to top-tier human talent and mature business networks.

Ironwood said it also intends to be a socially responsible investor and will plan to adhere to the IFC Performance Standards on Social and Environmental Sustainability for its investee companies.

"This is a great vote of confidence for the Sri Lankan economy highlighting that Sri Lanka is an attractive investment destination for global investors" said Mayank Parekh.

He added that "the team on the ground including Steven, Chanaka and Hiran has a proven track record in private equity that is rare and remains the formula for investing successfully".

"Investments like these not only give investors potentially excellent returns but are crucial in strengthening Sri Lanka's economy, supporting innovation and entrepreneurship, building locally based regional platforms and creating hundreds, if not thousands of new jobs," Steven Enderby commented.


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Kind Regards