Ata Invest, a Turkish investment bank, has lost its managing director and executive board member. Mehmet Sami, 48, left the firm on Friday after nearly 19 years, he confirmed to Private Equity International.
Sami, who has worked in the private equity sector since 1995, said he needed “new challenges and some time to rest”, but intends to continue his career in the sector.
“As an old timer I would say there’s more work in the Turkish market. There are other opportunities out there and I’ll take one of them,” he added.
Ata, which provides both buy-side and sell-side advisory services, raised the first ever private equity fund to invest in Turkey with AIG Capital in 2000. The $100 million AIG Blue Voyage Fund was fully invested in 2008. “After [the collapse of] Lehman, AIG Capital decided to close its country funds and we therefore went back to doing private equity advisory work,” Sami said.
Sami, who sent out an email to friends and colleagues to inform them of his departure, said the news surprised many people.
Ata Invest declined to comment on Sami's departure.