Investment fund manager Leopard Capital, which manages funds in Asian frontier markets, has closed its subsidiary Leopard Capital Sri Lanka Ltd, officials said this week.
It launched the Sri Lanka subsidiary two years ago with two funds - Leopard Sri Lanka Fund (for private equity) and Leopard Sri Lanka Value Fund (for public equity) – at a mega forum for investors. Officials said that they found it difficult to source funds amidst the global recession and had to close the operation.
The fund was to provide capital to “mid-market” Sri Lankan companies to help them expand domestically and in “other frontier economies”. Leopard manages the US$28.7 million Leopard Cambodia Fund, established in 2008. |
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