SHUAA Capital, the leading regional financial services company, announced Monday that it has successfully closed its SHUAA Partners Fund 1, yielding significant returns despite the tough market conditions. During the Fund's vintage period, from 2005 to 2012, public equity markets in the UAE (MSCI UAE Index) posted a decline of 78 percent. Following the sale of two remaining investments, SHUAA Partners Fund 1 has generated an IRR of 7.6 percent over its investment period. Sheikh Maktoum bin Hasher Al Maktoum, Executive Chairman, SHUAA Capital, said: "We are extremely pleased that we have been able to exit the fund on a positive note and return excess capital to our investors. The SHUAA Partners Fund 1 has performed well, delivering solid returns over its seven-year investment period. This is all the more pleasing, given the challenging market conditions in recent years." SHUAA Partners Fund 1 was launched in 2005 to invest in regional companies, including investments such as Petrofac, Air Arabia, Drake & Scull and Rotana Hotel Management Company. Late last year, SHUAA announced that the Private Equity division would be managed by SHUAA Asset Management going forward. SHUAA Asset Management is the UAE's premier fund and portfolio manager. Since 1979, SHUAA Capital has played a prominent role in shaping the financial services landscape of the GCC and will continue to be at the vanguard of regional integration into global financial markets. SHUAA Capital maintains a leadership position in investment banking, asset management, brokerage, private equity, and lending. – SG
