KUWAIT: KGL Investment Company (KGLI) announced the successful exit of The Port Fund investments doubling its Fund’s capital from $188 million to $380 million and generating an annual return of 10 percent over 10 years. The Fund is a private equity fund focused on port and related logistics opportunities in emerging markets. The Fund has consistently outperformed its industry peers despite unpredictable and uncertain market conditions, including the financial crisis in 2008 and the Arab spring in 2011, when the majority of private equity funds experienced substantial losses or at best devaluation. Due to the outstanding performance, the Fund’s returns have been ranked, with its management, amongst the top performing Funds worldwide.
Commenting on the Fund successful exit, Marsha Lazareva, The Port Fund Director, and Vice Chairman and CEO of KGL Investment Company, said: “We are immensely proud of the extraordinary effort of our team of dedicated investment professionals for achieving such superior returns for our investors”.
She added, “I would like to express my sincere gratitude to KGL Investment’s Board of Directors for their prudent guidance and consistent support during this turbulent time and would like to sincerely thank our investors and partners for their patience and loyalty. Our business is built on integrity and transparency and we are proud to have put our investors’ interest first and succeeded in our aim to realize the highest possible return.”
Lazareva further elaborated that the successful Exit of the Fund which has achieved investors significant profit return, will factually end all unreasonable allegations against KGL Investment Company, The Port Fund and their management teams. She stated: “these allegations were based on falsified and unsubstantiated information and fabrications by some of those who were unhappy with the success of The Port Fund, and by completing the Exit process, these allegations fell apart and proven to be false.” Lazareva pointed out that the Fund’s successful Exit, provides objective vindication and thereby proves that the allegations against the Port Fund are entirely false: “Far from being defrauded or even suffering investment losses, our investors have enjoyed significant returns on their investments. This fact is irrefutably demonstrated by today’s deal, which crystallizes those gains”. She clarifies that “the Fund has always operated in compliance with its guiding documents and governing laws, its Private Placement Memorandum, the laws of the Cayman Islands and its Limited Partnership Agreement”.
Lazareva ended: “Despite all the challenges we have faced, our sincere and professional efforts have paid off. Our investors’ trust and support were the main drive that empowered our strong will to exceed their expectations; today, we are even more determined to build upon this success and introduce tailor-made quality funds in the coming period to be the first choice of investors for successful and profitable investment”.