The Middle East is an unusual emerging market. It attracts investors with its oil wealth (+40% of the world’s proven oil reserves). Its consumer and competitive dynamics are fairly stableand predictable. And it has a +70-year history of successful deals with Western partners. All of these things make it particularly attractive and manageable for global value players.
But the number of companies inthe region – and deals – is quite small. Especially when compared with the large amount of local capital. So stocks and public bids attract too much money. And attractive private deals are hard to access. Typically, the biggest challenges for the MENA investor are deal access and valuation.
Southpoint Qualified Fund and Southpoint Qualified Offshore Fund returned 2.5% net for the first quarter, compared to the S&P 500's 6.2% return and the Russell 2000's 12.7% gain. During the first quarter, Southpoint's funds averaged 133% long and 70% short. Q1 2021 hedge fund letters, conferences and more The fund's long positions added 13% gross Read More
Buffett in Beijing Report Aug 2012