REAZ ISLAM NAMED PRESIDENT LR GLOBAL LANKA ASSET MANAGEMENT CO.
December 17, 2012
LR Global Expands South Asia Frontier Markets Operations, Names
New York, NY — LR Global, a leading frontier markets asset manager, announced today that Reaz Islam, CEO of LR Global Bangladesh, in addition to his regional role, has been appointed as President of LR Global Lanka Asset Management Company (Pvt) Ltd. In addition to its existing investments in Sri Lanka, LR Global secured a $10 million commitment from the IFC to launch the first private equity fund dedicated
exclusively to invest in Sri Lanka. Other significant
developmental organizations have also shown interest in
investing in the fund.
Don LaGuardia, Chief Executive Officer of LR Global, explained
that “Our objective when we launched our Bangladesh office three
years ago was that it would serve as the first step in
establishing LR Global as a major asset management company in
South Asia. Reaz has been tremendously effective in
accomplishing our goal in Bangladesh. It is time for us to
expand throughout the region and he is unquestionably the right
choice to lead us through our next round of growth.”
Following three years of strong performance in its Bangladesh
mutual funds, LR Global has grown in Bangladesh to approximately
25 investment and support professionals managing over $120
million in exchange traded closed end mutual funds with an
additional $50 million in commitments for 2013. The funds, which
are structured to invest 75% of their capital in secondary
securities and 25% across private and fixed income securities,
have significantly outperformed the Bangladesh market.
Reaz Islam, Managing Partner of LR Global and current CEO of LR
Global Bangladesh, has said that LR Global has further plans to
build its South Asia presence, including opening offices in
Myanmar and Nepal. Mr. Islam believes these countries present
the best growth opportunities within Asia.
LR Global, founded 16 years ago, invests exclusively in frontier
markets. In addition to its executive offices in New York, its
other offices include Bangladesh, Sri Lanka, Vietnam, Singapore
and Kazakhstan. Its website is www.lrglobal.com. The website for
LR Global Bangladesh Asset Management Company Ltd. is