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Turkey: Kuwait Global fund acquires stake in Yargici

Global Arab Network - - Jihad Taki

Monday, 09 May 2011 10:13

Global Arab Network - Global Capital Management LTD, the alternative asset management arm of Global Investment House (Global), has announced that the Global Buyout Fund (the Fund) has reached an agreement to acquire a stake in Yargici, the leading upmarket women's apparel and accessories retailer in Turkey.

Commenting on the transaction, Emir Yargici, the founder, said "we are excited to be partners with the Global Buyout Fund represented, by Global Capital Management, the Fund Manager, who shared our confidence in the growth potential of this business and injected growth capital into the company." Rajiv Nakani, Managing Partner at Global Capital Management, said "our investment focus is on growth companies. This investment gives us an excellent opportunity to back an innovative company to fulfill its growth aspirations and potential."

Ihsan Sancay, Partner at Global Capital Management stated, "we have been impressed by the solid financial and operational performance of Yargici and talented team behind this successful story. We see both geographic expansion potential for the business and long term prospects for this valuable brand in the sector, and are committed to working together with our valuable partner and the professional management team." Founded in 1978, Yargici is a premium retailer of women's apparel and accessories, operating in majot Turkish cities like Istanbul and Ankara with 23 stores and employs 252 people.

Target customer base of the company is concentrated in the upper-middle to high-income segment.

Global Capital Management is a leading alternative asset management firm in the MENA region managing five private equity funds, four real estate funds and seven hedge funds with an experienced team of more than 30 professionals based in Kuwait, Dubai, Cairo and Istanbul. Closed in March 2008, Global Buyout Fund managed by Global Capital Management aims to achieve capital appreciation with optimum returns, within controlled levels of risk, over the medium to long term by investing in growth capital in the GCC, Turkey, China and India. (KUNA)

Global Arab Network

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