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| Sunday, 8 August 2004 |
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Balendra heads Aureos South Asia Investment Committee Balendra to head Aureos South Asia Investment Committee Aureos Lanka Advisers (Pvt) Ltd., that recently launched a new private equity fund named Aureos South Asia Fund - I, (ASAsiaF-I) has appointed Deshamanya Ken Balendra as the Chairman of the Fund's Investment Committee. The other members of the Investment Committee are Mahendra Jayasekera, CEO of Lanka Tiles Ltd., Sev Vettivetpillai, Managing Director of Aureos Capital, the London-based parent company of Aureos Lanka Advisers, and Nissanka Weerasekera, Managing Partner of Aureos Lanka Advisers. ASAsiaF-I, with a committed capital of $10 million will focus on investments in Sri Lanka and Bangladesh. In 2005, a proposed ASAsiaF- II with a target capital commitment of $60 million will expand Aureos investments into India. Aureos is a leading global manager of SME private equity funds with 19 funds currently under management and a total capital of USD 319 million. Aureos consists of a global network of private equity funds in South and South East Asia, the Pacific Islands, Sub-Saharan Africa and Central America, with a Central Team based in London. In Sri Lanka, Aureos will look to invest in established companies with a good track record and strong management that seek expansion capital by way of equity. In addition, Aureos will also look to finance Management Buy-Outs (MBOs). In all cases, Aureos investments will be in the range of $500,000 and $3 million, in return for a significant minority stake and, in some cases, majority positions. Mr. Balendra brings with him a wealth of experience that will benefit Aureos in no small measure. In addition to Mr. Balendra's unparalleled track record in Sri Lankan private industry, he is also the current Chairman of the $106 million South Asia Regional Fund (SARF) promoted by Actis International Limited (CDC's Management Company), that is also a 50% shareholder of Aureos along with Norfund, the Norwegian Fund for Developing Countries. In South Asia, Aureos will focus on investments below $3 million whilst Actis/SARF will focus on larger investments. |
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