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Frontier investor active in Sri Lanka dies at 70: report
03 Dec, 2012 08:09:29
Dec 03, 2012 (LBO) - Jonathan Auerbach, a co-founder of a frontier market investment firm that has been among top investors in Sri Lanka since 2006, has died at the age of 70, in New York, a media report said.
Auerbach Grayson & Co, a firm that focuses on international trading was founded by Auerbach and David Greyson in 1993, Bloomberg newswires reported. He had died on November 29.

In 2006 it struck a partnership with Sri Lanka's Asia Securities, when the country was the brink of a renewed civil war with temporary peace with Tamil Tiger separatists rapidly breaking down.

"It is absolutely perfect timing because the market has come down 35 percent," then Asia Securities chief executive Asanga Seneviratne told LBO in January 2006.

Seneviratne said at the time that there was a view that the war would not be protracted as there were questions whether the Tigers could sustain a long conflict.

The Bloomberg report said Auerbach's firm traded in risky markets including Gaza and was trying to open Libya for foreign investors in March.

"By providing access to capital where it is needed most, Auerbach is an agent of development for the connected age," the report quoted author Parag Khanna as saying in a 2011 book.

His firm has large stakes in several Sri Lanka firms.

Auerbach Grayson is the third largest shareholder of Ceylon Tobbacco and is among the top 20 in NDB Bank, the top holder of non-voting Ceylinco Insurance shares and the sixth largest non-voting shareholder in Seylan Bank.

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