Distressed Fund Sancta Readies for U.A.E. Deals on Oil Slump - Bloomberg Business:
"Distressed investment opportunities in the United Arab Emirates and the Persian Gulf will rise this year as stock markets and companies in the region buckle under the pressure of oil trading at around $30 a barrel, according to Sancta Capital Group.
"We’re expecting compelling opportunities as equity prices collapse, credit spreads continue to widen, and companies struggle to raise capital from traditional sources," said Ahmad Alanani, chief executive officer of the Houston-based firm, which invests in under-performing companies and their debt. "The region offers an uncompetitive investment landscape and assets can often be dramatically mis-priced, both in the equity and credit space."
Sancta Capital sees U.A.E.-based construction companies and small businesses offering the best distressed situations as projects are put on hold, contractors struggle to get paid and local banks seek to offload loan portfolios, Alanani said in an interview in Dubai where the company has a research office. It also expects blue-chip infrastructure firms in Africa to offer good investment opportunities, he said."
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