By John Lee.
Tehran-based Griffon Capital has launched an offshore, Iran-focused equity fund and is seeking to raise 100 million euros ($108.28 million) from European investors by year-end, according to a report from ArabianBusiness.
The new Griffon Iran Flagship Fund is to be domiciled in the Cayman Islands, managed by Griffon Asset Management, and focused on buying stocks in the Tehran Stock Exchange and Iran Fara Bourse.
Griffon’s Head of Asset Management, Payam Malayeri, said:
“With over 300 actively traded listed companies, Iran provides investors the opportunity to enter a highly diverse stock market.
“(The market) is set to even further diversify with the significant pipeline of IPOs and privatisations expected in the next two to three years.”