Kuwait, 20 November 2011
NBK Capital is a leading investment bank in the Middle East and a subsidiary of National Bank of Kuwait (NBK), one of the largest banks in that region. With a reputation for excellence and more than USD 500 million of capital under management in its alternative investments division, the firm felt a responsibility to its LPs to provide a high degree of transparency and superior financial reporting. Those factors led the firm in March of 2011 to partner with Investment Café to develop its new web based reporting system that was launched just a few months later.
Anand Hariharan, Chief Financial Officer of NBK Capital, said the goal was to develop one secure location for LPs to access information about the firm’s two alternative investment funds: NBK Capital Equity Partners Fund and NBK Capital Mezzanine Fund I. He oversaw the process of selecting and implementing the Investment Café Investor Reporting System with assistance from members of the NBK Capital finance and investor relations teams.
“We were very pleased with the process of implementing the system and uploading the data,” said Anand, “and we have been happy with the level of service since going live with the portal.”
Anand examined a number of alternative providers to Investment Café but a key attraction, he said, was the fact that many of the larger global private equity firms he respects had already adopted Investment Café. He felt that served as a good testimonial for the technology. “Many of the leading alternative investment firms use Investment Café, which was very appealing in making our decision. Investment Café has developed quite a pedigree and it’s hard not to value the reputation they have built globally,” he said.
Investment Café’s web based reporting system allows clients to instantly communicate and disseminate information to investors around the world. It allows fund sponsors to easily publish reports – including investor letters, quarterly and annual reports, capital call letters – displaying a firm’s brand and including a direct link to its web site. GPs can also see exactly when, or whether, a particular investor has accessed any report, allowing additional email prompts to be sent when necessary.
Ken Pierce, Investment Café’s Managing Partner, commented on the firm’s continuing ability to attract and retain highly regarded investors around the world. “Private equity investors are optimistic about the long-term investment prospects in the Middle East and we are very pleased that one of the leading investors in that region has selected to work with us. We worked with NBK Capital to implement Investment Café and we were very impressed with their knowledge and commitment to provide their LPs with a high level of transparency.”
Since its founding in 2001, Investment Café has grown to report on 3,500 global alternative investment vehicles. Many of the top private equity firms are Investment Café clients, including #1-ranked The Carlyle Group.