BMB Capital, whose parent company is based in Brunei Darussalam, has recently introduced what could be the largest and most aggressive private Islamic Alternative Asset Management fund in the world with a rollout agenda to invest over $5Billion in Islamic Alternative asset opportunities over the next two years with a specific focus in emerging markets.
BMB Capital has reputedly brought on some of the most successful investors in the Middle East and Asia as its founding stakeholders. The founders of BMB Capital draw on an investment track record of managing over $120 Billion in alternative assets. The sheer size however does not deter the group from a very specific focus. As Media Spokesperson Halley Mestrinho explains “Most of these assets are to be invested according to shariah principles. We are also planning to invest nearly $1 Billion in the GCC and Emerging Markets in conjunction with local investment partners as we aim to take advantage of our Asian roots to tangibly support the Asian investment policy of many GCC investors.” The focus and makeup of BMB Capital has reputedly created one of the Islamic world’s most elite deal clubs, as members represent some of the most prominent interests in MENA and Asia.
The rise of the BMB Capital is proving to be the first sign that private firms may aggressively lead the way in the organic development of Brunei’s financial sector. As Mr Mestrinho commented “BMB Capital has really shown Brunei’s ability to host a pan regional institution of the highest calibre by attracting some of the most sophisticated investors from the GCC and Asia.”
The Chairman and CEO of BMB Capital, Mr. Rayo Withanage, regarded by many financial industry leaders as a charismatic maverick, has made a trademark of extending the reach of the world’s leading boutique investment houses into structures that invest along local investment principles in ASEAN and The Middle East. When asked about Mr Withanage, Mr Mestrinho remarked “Rayo is widely regarded as one of the most talented bankers to come out of the region. He is set to lead the way in a new generation of bankers that think and act globally but invest along local principles”.
The Group and its founders are yet to disclose its future plans, but close sources confirm that development continues to be aggressive and discrete. Mr Withanage explains “BMB Capital continues to work as a friendly unifying force with other leading Islamic finance institutions to bring consolidation and cooperation in the Islamic asset management industry.” Though the group musters significant presence and relationships in New York and London, much of its strategic direction is determined out of its low-key headquarters located within The Brunei Empire’s palatial grounds. It is here where the group welcomes its investors for its key decisions and the implementation of what is poised to be the most elite investment club in the Muslim world. The Group is due to release further information on its activities later this summer.
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