The US$2 billion Global Strategic Equities Fund (‘GSEF’) founded and sponsored by Dubai International Capital LLC (‘DIC’), the international investment arm of Dubai Holding, today announces that it has formed an advisory board of global business leaders.
The board will be chaired by DIC’s Executive Chairman and Chief Executive Officer, Sameer Al Ansari.
GSEF board appointees joining with immediate effect include:
- Nobuyuki Idei
- Helmut Panke
- Jean-Pierre Garnier
Chairman of the Advisory Board and Former Group CEO, Sony Corporation,
Founder and Chief Executive Officer, Quantum Leaps Corporation
Former Chief Executive and Chairman of the Management Board, BMW
Joining in 2008:
Chief Executive Officer (until end of May 2008), GlaxoSmithKline
Sameer Al Ansari, Executive Chairman and CEO of DIC said: “”These are three very substantial appointments for GSEF which reflect the global ambitions of the fund. All three have unrivalled experience in running blue-chip, worldwide businesses, and their industry expertise and international outlook will provide the fund with valuable insights. These appointments come at an exciting time for the GSEF, which has made substantial investments this year in Sony, EADS, and HSBC, and has further large investments planned. I look forward to working with them in developing and diversifying the investment portfolio.”
GSEF recently made a substantial investment in Sony Corporation (‘Sony’), one of the world’s premier consumer electronics and entertainment companies. In July, GSEF acquired 3.12% of the European aerospace and defence company EADS N.V., making GSEF one of its largest institutional shareholders. In May, it made a substantial investment in HSBC Holdings plc, becoming one of the leading shareholders in the global financial services firm.
All three investments are part of GSEF’s mandate to invest in global Fortune 500 companies following the closing of its first round of fundraising efforts at US$1 billion in February 2007. The fund seeks to become a leading shareholder in pre-eminent global large capitalisation stocks, whilst aiming to create value through long-term exposure to a concentrated portfolio of undervalued companies. GSEF is promoted by DIC Asset Management (‘DICAM’), the asset management subsidiary of DIC. Its wholly-owned subsidiary, NewDawn GSE Asset Management Limited, is the General Partner for GSEF.
Arab-Asian Investment Conference, Dubai, 3-4 December 2007
Sony will be among the 14 major Asian multinationals participating at DIC’s Arab-Asian Investment Conference which will take place in Dubai on 3 and 4 December. The senior management of the Asian businesses attending the conference will have an opportunity to showcase their companies to a group of more than 100 Arab investors comprising leading regional institutions and high net worth individuals. The Arab-Asian Investment Conference is sponsored by Daiwa Securities SMBC, Goldman Sachs International, JPMorgan Chase Bank, Natixis Corporate Solutions and UBS Investment Bank.
The impressive line-up of Asia’s leading multinational companies that will attend the Conference include Aluminum Corporation of China Ltd (CHALCO), Bharti Airtel Ltd, CITIC Pacific Ltd, Daiwa Securities Group Inc, DBS Group Holdings Ltd, DLF Ltd, Hong Leong Financial Group Bhd, Hyundai Motor Company, ICICI Bank Ltd, Infosys Technologies Ltd, Korea Electric Power Corporation (KEPCO), Samsung Electronics Company, Singapore Telecommunications Ltd and Sony Corporation.
About the advisory board members:
Nobuyuki Idei is Chairman of the Advisory Board of Sony Corporation, one of the world’s largest consumer electronics and media conglomerates with 2006 revenues of ¥8,295.7 billion and approximately 163,000 employees. Mr Idei was previously Chairman and Group CEO of Sony until he stepped down in mid-2005. He has spent his entire career with Sony in both Europe and Japan. Mr Idei is also CEO of Quantum Leaps Corporation, a Tokyo-based advisory boutique that he founded in 2006. He serves as a non-executive director on the boards of Accenture and Baidu.com, Inc., and as Chairman of the Board of Trustees of Waseda University.
Helmut Panke was Chief Executive and Chairman of the Management Board of BMW AG until 2006. He spent nearly 25 years at BMW, rising through the ranks of the German automaker which today has a market value of $40 billion, sales of $67 billion, and 106,000 employees. He began his business career as a consultant at McKinsey & Company. Mr Panke currently serves as an independent director on the boards of Microsoft Corp., UBS AG, and Bayer AG.
Jean-Pierre Garnier is Chief Executive Officer of GlaxoSmithKline (GSK) and will retire from this position at the end of May 2008. GSK is the second largest pharmaceutical company in the world with a market value in excess of $160 billion, 2006 sales of $46 billion, and 102,000 employees. Mr Garnier became CEO of GSK at the end of 2000, following the merger of SmithKline Beecham and Glaxo Wellcome. He was previously Chief Executive Officer of SmithKline Beecham, which he joined in 1990 as President of its pharmaceutical business. He began his career at Schering-Plough. Mr Garnier serves as an independent director on the board of United Technologies Corporation.
