Upload
vic-shaw-8890
View
240
Download
3
Embed Size (px)
Citation preview
The Team
Business Activities
Company Overview
Contents
2
A leading Investment Bank in the Middle East/North Africa region, serving a global base of High Net Worth Individuals and Institutional Investors, while upholding the highest professional standards
Experienced Team of Investment Banking ProfessionalsFull Fund Management and Execution Capabilities, incl. Tailored PortfoliosExpansive Network of Local, Regional and International ContactsUnrivalled Access to Deal Flow
Al Mal Capital
Our Vision And
Uniqueness
Management Team
Al Mal Capital has aggregated the top talent from the region, investment bankers with impeccable credentials and a deep understanding of both local and international capital markets
Who We Are
Naser Nabulsi
John Baggerman Narendra GajriaExecutive Chairman Private Client Group Chief Operating Officer
Khalid Madi
Blair Look
Robert McKinnonInvestment Banking
Asset Management
Equity Research
3
Al Mal CapitalBusiness ActivitiesAl Mal Capital is a full line Investment Bank focused on a range
of inter-related activities
AdvisoryStructured FinancePrivate PlacementsIPOBondsConvertiblesMezzanineSecuritization
Institutional & HNWIInvestment AdvisoryPrime BrokerageRegional ExecutionEquity Derivatives
Public Equity FundsPrivate Equity FundsDirect InvestmentsDiscretionary Accounts
BrokerageInvestment Banking Asset Management
4
Contents
The Team
Business Activities
Company Overview
1.
Investment Banking2.
Brokerage3.
Asset Management
5
Other Business Units
4. Equity Research5. Private Client Group
Investment BankingFinancial Advisory Services
Al Mal can add value in Mergers & Acquisition transactions on both the buy and the sell sides. We lead the deal from concept to deal settlement.M & A Advisory
Al Mal provides advice on carve-outs, spin-offs and the divestiture of non-core business assets or activities on behalf of our clients.
Divestitures/ Spin-
offs
Al Mal prepares valuation analyses and provides expert opinion on transactions.Fairness Opinions
Al Mal guides its clients through the credit rating process to simplify a complex and time-
consuming process and to ensure that the highest sustainable rating is received.
Credit Rating Advisory
Al Mal formulates tailored capital structure restructuring plans
for companies across all stages of the business life cycle and renegotiates the terms of loan agreements.
Financial Restructurings
Al Mal advises on forming and strategic alliances, local and cross-border. Through strong
investor ties we identify high quality strategic investors for our clients.
Strategic Partnerships
6
Investment BankingCapital MarketsCapital Markets
Al Mal Capital can assist companies through all the stages of the business lifecycle, including the transition from private to
public ownership
Al Mal Capital
Investment Banking
Equity Capital Markets
Al Mal Capital has the capability to undertake the origination, structuring, marketing and pricing of both equity and debt offerings
Private Placements
Initial Public Offerings
Secondary Offerings
Rights Issues
7
Conventional Debt Instruments
Islamic Financing Instruments
Debt Instruments with Embedded Options
Debt Capital Markets
Al Mal offers a comprehensive range of debt products and services, both conventional and Islamic
Investment Banking – Notable Transactions
With a dedicated team of bankers, Al Mal Capital is well-suited to work jointly with private businesses to help them achieve their strategic growth initiatives.
8
March 2006
TAAMEERMadaares PJSC
Direct PlacementCommon Shares
AED 53 Million
February 2006
Manazel Real Estate Company
Direct PlacementCommon Shares
AED 20 Million
November 2005
Depa United Group
Direct PlacementCommon Shares
AED 30 Million
July 2007
EMAAR MGF Land Limited
Direct PlacementCommon Shares
USD 13.5 Million
September 2007
January 2007
EMCOR Facilities Services Group
May 2007
Middle East Complex for Engineering Electronics
& Heavy Industries
December 2007
Drake & Scull International
July 2008
Drake & Scull International PJSC (under establishment)
Initial Public Offering of Ordinary Shares
AED 1,198 MillionJoint Lead Manager
Indu Projects Limited
February 2008
Initial Public Offer of Ordinary Shares
JOD 53 Million International Lead Manager
Private Placement of Ordinary Shares
AED 62.5 Million Sole Financial Advisor
& Placement Agent
Sell Side Acquisition
Financial Advisor
AED 227 Million
Pre-IPO Private Placement of Ordinary Shares
Sell Side Acquisition
Financial AdvisorFinancial Advisor & Placement Agent
Contents
The Team
Business Activities
Company Overview
1.
Investment Banking2.
Brokerage3.
Asset Management
9
Other Business Units
4. Equity Research5. Private Client Group
Al Mal Securities
The Prime Brokerage & Investment Advisory arm of Al Mal Capital
Caters to institutional clients & HNWI globally
Covers the Gulf, Middle East & North African markets
Operating at the parent & subsidiary levels
Subsidiaries include:• AMS Emirates (ADSM & DFM)• AMS Saudi (Tadawul)
10
Al Mal Securities
Prime Brokerage Services • Regional Execution & Clearing• Margin Finance• Custody• SLB (planned for near future)
Investment Advisory Services• Investment Strategy• Market Intelligence
Derivative Products• Al Mal FALCON Family of Indices & ETFs (planned for near future)• Equity Derivatives• Sukuk
11
Al Mal SecuritiesIPO Subscriptions
Tamweel IPO Client Subscription
ICBC (China) IPO Client Subscription
Galfar (Oman) IPO Client Subscription
Dubai Financial Market IPO Client Subscription
Talaat Mostafa Group (Egypt) IPO Client Subscription
Visa Inc. (US) IPO Client Subscription
12
Contents
The Team
Business Activities
Company Overview
1.
Investment Banking2.
Brokerage3.
Asset Management
13
Other Business Units
4. Equity Research5. Private Client Group
Asset Management
14
AL MAL CAPITAL ASSET MANAGEMENT
PUBLIC EQUITY & DEBT
PRIVATE EQUITY
Private Equity Fund Program
Direct Equity Placements
REAL ESTATE
Al Mal UAE Equity Fund AED 87 million
Al Mal Defined Opportunity Fund I USD 80 million
Al Mal MENA Equity Fund USD 5 million
Al Mal Opportunities FundAED 13 million
Al Mal MENA Income Fund January 2009
Al Fares Private
Equity Fund (Sharia
Compliant) AED 107
million
Al Mal Capital
Partners Fund L.P. USD 37 million
Direct Equity I (Manazel) AED 20 million
Direct Equity II (Madaares) AED 55 million
DEPA Limited AED 30 million
Emaar MGF USD 15.5 million
Al Mal Real Estate Fund AED 151 million
Al Mal Real Estate Fund II 2009
Demonstrated success in fund raising in public and private product offeringsClear ability to execute on strategies and deliver return to investorsCoverage of key asset classes and strategies in MENA
Overview
Al Mal UAE Equity Fund
-47.55%
MSCI UAE Index
-78.75%
Al Mal UAE Falcon Index
-72.79%
Shuaa Emirates Gateway Fund -57.12%
ADCB Al Nokhitha Fund -74.33%
NBAD UAE Growth Fund -76.26%
Makaseb Emirates Equity Fund -72.40%
NBAD UAE Trading Fund -59.66%
Asset ManagementAl Mal Equity Funds -
Performance Comparison
The Al Mal UAE Equity Fund and Al Mal MENA Equity Fund have consistently outperformed their respective benchmarks since inception, as highlighted below (figures as of December 31st
2008):
15
Al Mal MENA Equity Fund
-47.50%
MSCI Arabian Markets Index
-53.55%
EFG Hermes MEDA Fund
-47.08%
Shuaa Arab Gateway Fund -57.78%
Algebra Capital -
Alpha MENA Fund
-64.64%
Arabian Opportunities Fund -48.36%
Makaseb Arab Tigers Fund -52.65%
EIS MENA Top Companies Fund -55.20%
Note: Inception date of the Al Mal UAE Equity Fund is 5th
April 2006 and Al Mal MENA Equity Fund is 15th
June 2008
Asset ManagementAl Mal Equity Funds –
Investment Process
We believe in prevailing themes and investments that capture good long term company fundamentals, and buying growth at a reasonable price.
Our investment process
begins by identifying long term themes and high quality company shares, then further qualify candidates using our screening criteria which focus on profitability, growth, valuation and liquidity.
A thorough examination of companies’
financials and analysis of durable business opportunities and competitive forces is undertaken, followed by ongoing meetings with company management.
The Fund Manager and the Investment Committee review regularly the portfolio’s relative performance, target prices, stock and sector selection as well as any rebalancing which may be needed.
16
Asset ManagementAl Mal Private Equity ProgramThe Al Mal Private Equity Program is comprised of two Funds, both pursuing significant capital appreciation, primarily through investing in the equity of unlisted companies and Pre-IPO issues in the MENA region. The funds were introduced in mid-2008.
Al Fares Private Equity Fund
Sharia Compliant FundRegulated by Central Bank of the UAEReputed Sharia Advisory BoardAED Denominated
Al Mal Capital Partners Fund LP
Conventional Fund Limited Partnership StructureCayman Islands DomiciledUSD Denominated
Fund Program Highlights
Program Size USD 66 Million5 Year Fund TermMENA Regional FocusInvestment Committee formed from across departments of Al Mal CapitalDefined Investment Process
17
A well established process is in place for the Private Equity Program, accompanying each investment through its life cycle.
Asset ManagementPrivate Equity -
Investment Decision Process
18
Contents
The Team
Business Activities
Company Overview
1.
Investment Banking2.
Asset Management3.
Brokerage and Trading
19
Other Business Units
4. Equity Research5. Private Client Group
20
Equity Research
Research covers the whole MENA region
Sectors covered include: • Real Estate• Banks & Non-Bank Financials • Telecom • Construction & Building Materials • Energy & Petrochemicals
Research team consists of 5 analysts with over 40 years of combined experience
Senior Analysts have specific sector expertise
Equity Research Summary
21
Equity Research
Research Product
Theme Research Individual Equities Economics/Strategy
Weekly Equity Strategy Report.
Monthly Economic Review
Model Portfolio with recommended country and sector weights.
Coordinate report, including sector analysts and strategy/ economics.
Goal is to produce one them report per quarter.
Them examples: Best Ideas for Upcoming Year, Potential Currency Revaluation, Global Credit Crunch, Inflation etc.
Initiation of Coverage
Industry Quarterly Earning Expectations Report
Quarterly Earnings Review
Annual Industry Report
Research Note: Response to news, recommendation, no change, new trade idea.
Contents
The Team
Business Activities
Company Overview
1.
Investment Banking2.
Asset Management3.
Brokerage and Trading
22
Other Business Units
4. Equity Research5. Private Client Group
Private Client Group
Our Private Client Group provides:
Customized opportunities and reliable investment guidance to high net-worth individuals and family businesses/corporations
Access to wide variety of investments including Brokerage, IPO’s, Private Placements, Direct Investments and a variety of Proprietary Funds
Advisory Services and access to Margin Trading
Access to the Gulf, Middle East, North Africa and most major international markets
Private Client Group Services
23
Private Client Group
Investment Accounts (IA)• Marginable accounts which allow clients to seamlessly trade and view securities on various markets
on one single, consolidated platform• One statement reflects the entire range of transactions and holdings of individual securities
including Funds and Direct Investments• Securities can be transacted across a number of the regions’
key markets and selected international markets through a single point of contact –
the Client’s Financial Consultant
Investment Advisory Services• Investment Strategy and Guidance• Market Analysis and Research• Strategy implementation through a wide range of products• Individually tailored solutions
Distinct Products• Private / Public Equity Funds• Real Estate Funds• IPO’s• Sukuk’s• Private Placements• Direct Investments
24
The Team
Business Lines
Company Overview
Contents
25
The Team
26
Naser Nabulsi worked from 1989 until 2000 with Merrill Lynch International as a top performing banker based in Dubai, holding the position of First Vice President at age 27 and managing relationships for institutions and high net worth families in the region. From 2000 until 2003 he served as Senior Investment Officer and Head of the Asset Management Group for The Executive Office, Dubai.In 2003, he was requested to take on the role of initial Chief Executive Officer of the newly-established Dubai International Financial Centre (DIFC). Mr. Nabulsitransformed DIFC from a fledgling entity into a recognized and respected brand in regional and global financial circles alike, as well as laid the groundwork for the DIFC's future success by establishing the legal, regulatory and physical presence for the world's next significant financial hub. In 2005 he stepped down from DIFC to lead the creation of Al Mal Capital.
Naser
NabulsiExecutive Chairman
John Baggerman
Managing Director-
Private Client Group
John Baggerman has more than 32 years banking experience in the GCC Region, commencing his career with HSBC in 1973 as an International Officer. John entered the Private Banking arena with Merrill Lynch in 1985 with whom he spent over 12 years building a successful private banking franchise. John subsequently managed Prudential – Bache International in Dubai for over 4 years during which time the business experienced substantial growth. John also spent time with ANZ Grindlays Bank and Standard Bank.Prior to joining Al Mal, John was General Manager of DBS Bank Ltd. There he was responsible for the initial establishment of their presence in Dubai and the subsequent development of their business in the Middle East Region.
The Team
Narendra
GajriaChief Operating Officer
Narendra Gajria has held senior management positions since 1991, initially as Chief Financial Officer followed by Chief Operating Officer with ABN AMRO Bank N.V., with responsibilities covering Management of Operations, Technology, Infrastructure, Human Resources, and Finance & Administration. He has extensive experience in supporting establishment of start-up business units i.e. International Private Banking, Consumer Banking, Investment Banking, and Corporate Banking. Narendra holds an M.B.A. from the University of Hull, UK. He is a certified Information System Manager and Auditor from Information Systems Audit and Control Association, USA, a Graduate Member of Institute of Financial Consultants, Canada, and Associate Financial Accountant from the Institute of Financial Accounts, UK.
27
Blair Look spent 11 years with Merrill Lynch International, both in Dubai and London where he developed and led a team managing over USD 450 million from clients primarily located in the UAE, Saudi Arabia and other Gulf states. He was a five time attendee of Merrill Lynch's Chairman’s Club and Eagles Club, in recognition of performance excellence.Blair became an early adopter of alternative strategies including hedge funds and private equity in the early 1990's. Early fund group involvement included Caxton, Tudor, Trout and Moore, assisting in seeding the Ivy Rising Stars private placement in 1996 with USD 30 million from his client base, and raising over USD 40 million for Maverick Capital during a single fund opening in 1997-98.Blair started his banking career with HSBC in Canada in 1990. He undertook postings in Hong Kong, India and Dubai before joining Merrill Lynch in 1993.
Blair LookManaging Director -
Asset Management
The Team
Khalid Madi spent nearly a decade with Merrill Lynch, where he built a successful private banking franchise. In 2002, he founded Dubai-based Infinity Investment Solutions after recognizing the need for a low-cost alternative distribution model to that employed by banks. In developing the company platform, he established the legal framework, reporting systems and monitoring infrastructure. He then drew on his extensive industry contacts and networks to create a range of top quality products and relationships with major banks to provide institutional-quality idea flow to clients. To date, Infinity has placed over USD 800 million in third party products, from single manager and fund of fund hedge products, to structured note offerings and packaged direct equity. Khalid holds a B.A. in Finance and Marketing from Boston University.
28
Robert McKinnon brings more than 14 years of experience in investment research and portfolio management, with a particular focus on the energy sector in emerging markets.Robert started his career as an analyst with MRC Consultancy Ltd. covering the Latin American Oil & Gas sector. In 1997 he joined the Latin American Oil & Gas desk at Credit Suisse First Boston, where, as Vice President, he covered both the Energy and Conglomerates sectors. He continued focusing on energy and conglomerates at Salomon Smith Barney until 2005, when he joined Naeem Holding as Managing Director of Research. In 2007, Robert joined Al Mal to spearhead its sell-side Equity Research division.Robert holds a B.A. in Economics and International Studies from the University of Richmond and an MBA in International Finance from the American Graduate School of International Management (Thunderbird).
Khalid MadiManaging Director -
Investment BankingRobert McKinnonManaging Director-
Equity Research