Aventicum Capital Management will operate out of two hubs including a Doha-based business focused on investment strategies in the Middle East, Turkey and other frontier markets as well as an international business, based outside of the region.
Aventicum will focus on asset classes that reflect current market trends and will serve the needs of institutional clients worldwide. All businesses launched by the joint venture will benefit from the same rigorous investment and risk management practices that Credit Suisse employs across all of its asset management operations. The Doha-based division will launch in early 2013, with the launch of the international business following later in the year.
Aladdin Hangari, CEO of Credit Suisse Qatar, will take on the additional responsibility for the joint venture and Martin Keller, Head of Asset Management EMEA for Credit Suisse, will chair the Board of Directors.
Hashem Montasser has been appointed as the CEO and CIO of the Doha-based business. Previously, Mr. Montasser was the Head of Asset Management at EFG-Hermes.
The Doha-based business of the joint venture, Aventicum Capital Management (Qatar), will be licensed and regulated by the Qatar Financial Centre.
Ahmad Al-Sayed, CEO of Qatar Holding, said: 'The launch of Aventicum is a key step in establishing Doha as a pre-eminent international financial center. We believe that Credit Suisse’s experience and strength in asset management, coupled with its expertise in emerging markets, makes them the ideal partner for us'.
Brady Dougan, CEO of Credit Suisse, said: 'Today’s agreement provides an opportunity for us to join with a highly respected partner and is a further example of our long-standing commitment to the region. This partnership plays to the strengths of Qatar Holding and Credit Suisse and we believe Aventicum will provide a unique investment platform, both in Qatar as well as internationally'.
This announcement marks another milestone in the strategic partnership between Qatar Holding and Credit Suisse. This partnership was formalized in 2008 when Qatar Holding became one of the largest shareholders of the Credit Suisse Group.