Guardian Capital Partners in JV with US firm for private equity

Thursday, 5 May 2016 00:00 - - {{hitsCtrl.values.hits}}

Guardian Capital Partners Plc (WAPO) has entered into a joint venture agreement with US registered Small Enterprise Assistance Funds (SEAF) to engage in private equity.

SEAF has made over $ 387 million in private equity investments in 25 emerging and frontier markets across over 400 projects since its inception. Guardian Capital Partners Plc is a specialist private equity investment company under the Ceylon Guardian Investment Trust Plc with assets under management of over Rs. 30 billion.

The agreement includes the formation of a joint venture company in an overseas jurisdiction to carry on a fund management business to manage and invest in private equity projects in Sri Lanka.

Guardian Capital Partners will hold 41.7% and SEAF will hold 58.3% initially. The private equity fund to be formed will see investment participation from local and foreign institutional investors including Guardian Capital Partners who wish to participate in private equity investment opportunities in Sri Lanka.

Guardian Capita Partners’ participation in this venture is subject to obtaining all relevant regulatory and shareholder approvals in Sri Lanka.