Mubasher: Global Investment House, a subsidiary of KAMCO Investment Company, has distributed cash dividends worth $12 million to its clients investing in the private equity fund, Global Opportunistic Fund I (GOF I).      

Total distribution reached $223 million from 25 exits, besides cash dividends and capital reductions, according to a press release on Wednesday.

The distributions are the 15th by the fund following the successful exit and collective cash dividends from Future Kid and a capital reduction from Gulf Healthcare International (GHI), according to a press release on Wednesday.      

A 35% total return was registered by the fund following its exit from Future Kid in February 2019, going above the company’s value on the fund’s extension date in 2012.   

Global's head of alternative asset management, Ihsan Sancay, said ‘’We are proud that the private equity funds managed by Global have been consistent in value creation and portfolio exits, which paved the way for constant cash distributions to our clients.’’

Co fund manager of GOF 1, Ahmed Abdallah, stated ‘’With the support and guidance of the board of directors and the management team of Future Kid, we were able to turnaround the company resulting in operational growth and improved financial performance.’’

‘’Private Equity funds managed by Global, which distributed around $750 million to its investors since inception, have undergone a successful operational turnaround in many of their key investments which had put most of the portfolio companies back on the positive growth trajectory,’’ the press release said.          

In September 2019, Global accepted its board’s recommendation to merge with KAMCO, dissolute the company, and transfer its financial clearance unto KAMCO.