July 21, 2010 (LBO) – New York based Logan Rockefeller Global (LR Global) is planning to invest 20 million US dollars in Sri Lanka through a newly set up local unit, which itself is planning a public listing as early as next year, officials said. “We are looking at Sri Lanka as a market that has a huge potential,” Don LaGuardia, managing partner of LR Global said.
He says the firm will initially invest 20 million US dollars in two rounds. The fund itself is planning a listing which could be as early as next year.
“We are looking at taking the investment company to the public with a time frame not exceeding one year,” LR Global Lanka Asset Management chief executive Channa de Silva said.
“LR Global is committed to build Sri Lanka’s best asset management unit in the country handling listed and unlisted equity.”
LaGuardia says the firm will buy into companies that give the best risk-return and the fund itself will list on the market.
“We want to start on it small and build on it as a qualitative investment,” LaGuardia said.
“After that I will allow the listing of the investment company on the Colombo Stock Exchange.”
Sri Lanka is recovering from a 30-year war which ended in May 2009. Last year Sri Lanka’s stock