By Sami Zaptia.
Tripoli, 11 July 2013:
Libya Holdings Group Ltd. (LHG), an investment partner for leading international companies wishing to serve the Libyan . . .[restrict]market, has launched a fundraising to support “the fast growth of its operations”.
LHG was established during the Libyan revolution in 2011 by Ahmed Ben Halim, the son of the only living former premier of the country and an active participant in the rebuilding of post-revolution Libya, and Ali Ojjeh, a former energy investment banker at Goldman Sachs.
They had previously co-founded The Capital Partnership in 1998, creating a leading asset management firm investing in venture capital, private equity and public securities.
Commenting on LHG’s announcement, Ben Halim said that “The Libyan economy is moving steadily through a stabilization phase that is seeing civil security and basic trade ever more deeply embedded”.
“The country has vast natural resources and during this first phase of its emergence we believe that it will need to invest particularly in its oil and gas sector and in its housing, power and transportation infrastructure.”
He continued, “International partners will be essential in providing expertise to help the country and we are working closely with such companies to invest in Libya. The combination of access to new funding together with the experience and connectivity of our local and international operations will help us to move even faster.”
Ben Halim believes that combining access for international firms with an ability to co-invest with local entities will boost the country’s economic evolution through future rebuilding and growth phases.
LHG says that it aims to provide commercial partners with local knowledge, a network of contacts, on-the-ground operational support and capital, “all of which are required to create and grow successful enterprises in Libya”.
It also maintains that it is an active strategic advisor to both local and international companies. LHG says that it is actively engaged with numerous leading international partners to develop large infrastructure projects and strategic investments.
The new fundraising, by way of a private placement, “will allow LHG to broaden its resource base to provide access to international firms, principally in the oil & gas, financial services and construction sectors”.
LHG says that it has already benefited from investments made by individuals and institutions from the GCC, most notably Saudi Arabia. “Discussions with a number of new investors” to support its growth are now underway throughout the region and more widely, LHG says.
LHG has a presence in Tripoli, Dubai and London, providing a geographic coverage of key regions to help facilitate foreign direct investment into Libya.
Please visit www.libyaholdings.com for more details. [/restrict]
