KFH and ePlanet to form global alternatives platform

Kuwait Finance House and the former DFJ affiliate will set up ePlanet LMH Capital, a Sharia-compliant firm, to invest in private equity and other alternative assets.

Liquidity Management House for Investments, a subsidiary of Kuwait Finance House, and ePlanet Ventures, have teamed up to form a Sharia-compliant alternative assets management company.
ePlanet LMH Capital will source and invest in private equity and other alternate asset-related opportunities globally, Asad Jamal, ePlanet Ventures’ chairman and chief executive, said in a statement.

The partnership will allow Liquidity to offer a range of globally sourced higher yielding alternative opportunities to its clients and the clients of Kuwait Finance house, the statement noted. Other details pertaining to the new firm were not disclosed. Kuwait Finance House could not be reached for comment. ePlanet Ventures was not available for comment at press time

In May, Kuwait Finance House and Cyprus SFS Group teamed up to launch a $150 million Sharia-compliant private equity fund focused on shipping.

Set up in December 2009, Kuwait-headquartered Liquidity Management House is the international corporate and structure finance arm of Kuwait Finance House. It offers Islamic financial products and services including Sukuk, structured finance, asset management, Islamic treasury services and direct investments.

Founded in 1999, ePlanet Ventures was formerly part of Draper Fisher Jurvetson's global affiliate network. Its investments have included Chinese search engine Baidu, Chinese digital media group Focus Media and VOIP company Skype. It typically makes technology focused investments and has offices in Silicon Valley, London, Bangalore, Beijing, Shanghai, Hong Kong and Seoul.