Samana Global Business Solutions, a Kerala-based diversified business group, has tied up with IBMC UAE to float a feeder fund in Abu Dhabi.
The move aims to tap investors from GCC and other international markets for its proposed $560 million Alternative Investment Fund (AIF).
IBMC UAE will launch the fund in Abu Dhabi on Wednesday, at the concluding programme of IBMC's 10-month long UAE-India Business Fest 2018 at the Emirates Palace, said Sabith Koramba, Group executive director, Samana Global Business Solutions.
The AIF, titled Samana Global Fund (SGF 2020) is in talks with sovereign funds, family offices and other large fund houses, besides HNIs (high net worth individuals) based out of GCC to investment in its AIF, Koramba told Arabian Business.
SGF 2020 is one of the first India-focused funds in the recent time which is targeting Abu Dhabi for its international fund raising plans. Indian or India-focused funds generally select Singapore, London or New York for tapping international investors.