SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, announces that it has won two awards at the Global Banking & Finance Awards 2020, “Asset Management Company of the Year” and “Best Investment Bank in MENA“.
The “Asset Management Company of the Year” award reflects a highly active year for the Group’s asset management business which launched a number of innovative new funds last year as part of its focus on building permanent capital vehicles to enhance earnings visibility. New launches in 2020 include the SHUAA Financing Opportunities Fund and three other innovative funds launched in Abu Dhabi Global Market (ADGM) under an Incorporated Cell Company (ICC) Fund Platform. More recently, SHUAA also launched Thalassa Investments LP, a Cayman Islands domiciled fund that invests in and manages the complex debt buyout of Stanford Marine Group, one of the Middle East leading offshore services companies.
Meanwhile, the “Best Investment Bank in MENA” award recognises SHUAA’s investment banking achievements in 2020, which include supporting USD 685 million of debt capital markets issuance and providing additional support to corporates through specialized restructuring solutions, as well as providing free advisory services and financial packages to small and medium enterprises (SMEs) in the face of global pandemic challenges.
Jassim Alseddiqi, Group Chief Executive Officer of SHUAA Capital said, “SHUAA has positioned itself strongly during the recent challenges of the global pandemic thanks to our clear strategy for long-term growth. While other players in the market were in retreat, we had the will and the ability to continue to provide financing and specialized solutions to corporates, as well as introduce new innovative investment vehicles which will grow our recurring income over the long-term. These awards validate our continued success in providing pioneering, best-in-class solutions to our clients, as well as the strong momentum across our business and an exciting pipeline of investment opportunities for which SHUAA is known.”
SHUAA had recently announced its preliminary financial results for FY 2020, in which the Group doubled its profit year-on-year – with a net profit of AED 125 million in FY 2020, up from AED 47 million in 2019.
Global Banking and Finance Review is a leading financial platform that publishes analysis, opinion, news and reviews from the world of finance, reaching over 3 million readers annually. The magazine’s annual awards program is one of the most anticipated, recognizing innovation, change and achievement in the world of banking and finance.