BEVERLY HILLS, Calif., June 15, 2015 /PRNewswire/ -- Exhilway Global US exits from the emerging markets Global Opportunities Fund I in a deal valued at an undisclosed amount as it plans to focus on its core business which includes M&A advisory, fund placement and index funds management.
Exhilway internationally to its credit has several successful funds under its belt, which includes the latest US $200 million Mines & Minerals fund. However the funds which were focused on the emerging markets, especially in India, has never given any upside and was struggling due to variety of reasons which made Exhilway US management decide in exiting from the emerging markets Global Opportunities Fund I.
Exhilway Global Opportunities Fund I a US $200 million fund even after being successfully funded from a clutch of global high net worth investors struggled with the deployment of funds as the investors was never satisfied with the asset quality of the target companies. The investment commitments will now be passed to the new investors who will be taking charge of the management and the investment decisions.
The exit of Exhilway US from the emerging markets fund will make investment decisions in countries like India much faster and smoother. Based on this development, the investors have further declared a fresh infusion of US $300 million in its emerging markets kitty as and when required.
The new global investors who committed US $203 million in Exhilway Global Opportunities Fund I took charge of the fund and asked the existing Exhilway US management to quit due to poor corporate governance and disorderly financial and accounting records of the target companies in the emerging markets fund.
The fund management in India however denied these allegations and cleared that all target companies were sourced from credible sources and utmost care was taken before the case was referred to the investment committee.
The new investors will now form a fresh investment opinion depending upon the third party surveillance audit report from the top audit firms of the world initiated by the client themselves along with obligatory documents as required. The present Indian management team will continue to function normally under the control of the new investors and the management.
The investors will now rebrand the fund and will invest in the credible companies, which can generate exceptional returns. Exhilway Global Opportunities Fund is expected to conclude by the end of this year.
SOURCE Exhilway Global US