This publication recently met
with Abu Dhabi Capital Management, an investment firm that, as its name
suggests, stems from the Middle East. Its
focus at the moment is on the Gulf Co-operation Council region. WealthBriefing met with Mustafa Kheriba,
chief operating officer, and Jassim Alseddiqi, chief executive, to find out
more about the firm, which was established in January 2011 by private investors
based in Abu Dhabi.

What are the main investment vehicles of the firm
(including the listed fund)?

Private Equity Special Situations;
Real Estate Special Situations; Qannas Investments Limited (the firm’s only
listed vehicle), and Managed Accounts. (Qannas is quoted on London's AIM market.)

How would you best describe the
investment philosophy of ADCM?

We are an opportunistic investor.
We seek to achieve above average return while protecting and limiting our
downside. 

What markets, in geographic terms, does
the firm invest in?

The Middle East and North Africa and London, UK.

Approximately what is the size of assets
under management?

$180 million.

Can you, in indicative terms, give a measure of the
investment returns you have achieved for clients, such as in terms of internal
rates of return?

We have achieved an average IRR of
70 per cent since inception.

What sort of end-investors do you have
(family offices, etc)?

Mostly institutions, but we do have
around 25 per cent high net worth individuals.

Can you re-state your approach in terms
of only raising funds once you have a pipeline of investments? Can you remind
me of why you choose this approach?

The approach is to reduce cash
drag and hence keep a healthy IRR.

How do you set fees?

Fees are different depending on
the investment management structure (fund) that we have. For Qannas, the fee is
composed of one-time founder shares and a performance fee. There are no annual
management fees.

How do you see investment prospects
going forward?

As a purveyor of niche and
exclusive investment opportunities in the Middle East and North Africa region, and the only Special Situations
experienced team in the GCC region, ADCM enjoys a healthy pipeline
of opportunities exclusively sourced.

ADCM has a positive outlook for
growth in the GCC region and sees ample opportunities to embark on lucrative
investments. Our track record has proven our investment strategy thesis thus
far and we are confident that moving forward our thesis will generate healthy
returns to our investors.

Tells us a bit about yourselves

Jassim Alseddiqi was educated and
trained as an engineer, and lectured electrical engineering in Abu Dhabi. He moved to the investment and
finance industry eight years ago. He was previously CEO of Abu Dhabi Capital
Group until 2011 when he formed ADCM.

In the case of Mustafa Kheriba, he
was educated in the US and Canada, and is
an investment management executive boasting more than 15 years of financial
services and investment management experience. As of 2011, Kheriba is chief operating
officer of Abu Dhabi Capital Management.