CAL keen on Rs. 4 b private equity fund

By Charumini de Silva

Leading investment banking firm Capital Alliance (CAL) yesterday announced that it was keen to expand its portfolio to a private equity fund of Rs. 4 billion through a foreign collaboration.

“We are now looking at a private equity fund targeting about Rs. 4 billion,” CAL Managing Director Ajith Fernando told journalists in Colombo yesterday. He asserted that a foreign equity fund would partner them in this endeavour.

“The discussions are still at an initial stage and it is an Asian investor. With this collaboration, we could augment our investments by using their money. We hope to come to a final decision within the next month,” he added.

According to him, the private equity fund to be formed would see investment participation from local and foreign institutional investors.

Fernando also pointed out that the country’s economy was now well positioned to cater to private equity, insisting that there was notable interest from the corporate sector.

 “We think that the time is right for private equity to take off in Sri Lanka. As few companies raise capital successfully and realise the benefits, there will be many more firms to go for private equities,” he added.

Established in 2000, CAL offers a broad spectrum of integrated investment and capital market solutions to a diversified client base. The firm focuses on providing innovative and integrated solutions tailored to meet the needs of its clients.   

Beyond the shores of Sri Lanka, CAL’s client network extends to a wide range of institutional investors across multiple geographies to make opportunities in Sri Lanka accessible to the world.