Toronto-based private equity firm Hilco Consumer Capital (HCC) yesterday said it has opened its international office in Dubai and wants to raise up to $150 million (Dh551m) for a fund that will invest in distressed brands globally.
The firm is talking about triple-digit returns in a possible time frame of six to 12 months. "Our investors are seeing very healthy multiples on their investment. We do not have specific time lines in our documents, so our investors are patient. That being said, we have in the past delivered very good returns over six to 12 months," HCC Global Managing Director Reyaz A Kassamali told Emirates Business.
"It's a contrarian move in this economic environment because it provides opportunities where others may not see them. The fund is open-ended; we allow new LPs [limited partners: a term that defines investors in a private equity fund] to participate as we go along."
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