Triago is a privately run fund-raiser and equity advisor company which are planning to raise over $300 million from private investors in Asia, the US, Europe and Australia for a Riyadh-based investor fund by the close of 2010.
The company Triago has stated that many companies and investor’s don’t know much about the whole Middle Eastern region at present or about the investment opportunities that exist here. Also there is a lack of knowledge about the geography of the region and some still think of the Middle East as just being Saudi Arabia or Dubai.
This will be the first time that such an investor is looking beyond the Middle East to seek new investors for equity funds. He will be hoping to attract about forty nine or fifty companies or individuals looking for investment opportunities and says many from the European region have already expressed genuine interest in his plans. Triago are expecting to have put together a rough draft of final proposals by the middle of the year.
However analysts are saying that all fund raising will be extremely difficult this year largely due to the lack of redistribution of profits occurring at present. These excess profits only begin to circulate when they are being made available to reinvest in new markets and this activity at present remains rather stagnant.
Antoine Drean who is the Chairman of Triago commented that if limited partners are not receiving profits then it will be difficult to raise funds but is remaining positive at present and stated that they are currently working on a couple of fund raising ventures.Paul Holdsworth, Staff Writer, Gulf Jobs Market News