Samena Capital, a one-year-old fund manager with an office in London,
is planning to expand its operations out of the UK. Having identified
Asia as a growth market the Samena management intends to set up
offices in India and Japan by mid-2010. Instituted in February 2008,
the company is promoted by a group of Indian and Middle Eastern
entrepreneurs including Atul Punj, the founder of Indian engineering
and construction firm Punj Lloyd.
Taking their first step towards establishing a foothold in the Asian
region, Samena has decided to take over Hong Kong investment firm
Vision Asia Pacific (VAP). According to a Reuters report, Samena
manages a $200 million special situations fund and is in the process
of raising money for a Japanese fund, will add $75 million to assets
under management (AUM) after absorbing its Hong Kong counterpart.
Reuters quoted Samena President Shirish Saraf saying, "The VAP
transaction will provide Samena with an Asian base to identify new
opportunities as well as bring onboard asset managers with strong
track records who lack access to capital."
Its first fund, the special situations fund, is understood to have
returned 32% since its initial closing in August 2008. Just last
month, the firm had launched a Japanese long/short equity fund with
about $25 million in seed money that it hopes to grow to over $100
million.
