BMB Refocused as Specialist Advisor and Investor for Forbes 500 Families
The BMB Group, founded in 2006 by members of Asian and Gulf based ruling families, has refocused its business to provide capital and specialist advice exclusively for Forbes 500 families. As part of these changes, former Chairman and CEO Rayo Withanage has handed the reigns of BMB to Mr Rahula Withanage as he moves on to run Scepter Partners with Anthony J. Steains and his former Blackstone Asia Advisory Partners team.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20151002005056/en/
Though no longer part of BMB’s management, Mr Rayo Withanage will still retain an important role in the future of BMB as one of its investors. Scepter has committed $2 billion for BMB to develop transactions and operating businesses that can be meaningful and transformative for Forbes 500 families. Commenting on the split co-founder and owner HH Prince Abdul Ali Yil Kabier, a scion of the ruling family of Brunei commented “We hope that some of BMB’s activities may generate investment opportunities for Scepter as a co-investor in the future. Scepter seeks to maintain a good working relationship with BMB in instances where large commitments may be required."
As the new CEO of BMB, Mr Rahula Withanage added, "BMB is committed to servicing its present partners and growing its capabilities in its specialization under independent management and governance. BMB will continue to deepen partnerships with some of the largest family offices in the world, where these partners wish to develop new business lines and grow existing businesses, particularly in natural resources, real estate, hospitality, and media and technology. BMB is particularly focused on situations where partners wish to buy out minority stakeholders, consolidate controlling positions and obtain expansion capital for the acquisition of new businesses.”
In addition to providing capital solutions BMB will continue to provide specialist advice in the form of business development and strategic advisory services, with a focus on emerging markets of Asia, Latin America, CIS and the Middle East. We exist to make a meaningful contribution to the endeavors of our family partners.
About The BMB Group
BMB was founded by financier Rayo Withanage and HH Prince Abdul Ali Yil Kabier as a commercial multi-family office of ruling families and ultra-high net worth investors. The firm was advised by Blackstone Advisory Partners for four years before spinning out its family office assets into Scepter Partners under independent management by Mr Anthony Steains.
The spin out was driven by the interests of investors to convert from a traditional family office structure to a more institutionalized merchant banking and direct investment syndicate characterized by Scepter Partners. BMB has since focused its business to be an advisor with a specific focus on Forbes 500 investors which only include family offices with over $5 billion in assets. BMB assists its partners to enhance M&A activity and catalyze transformative transactions that leverage off of BMB’s expertise and experience in government relations, strategic advisory and corporate finance. BMB is headquartered in Bermuda with representative offices in London and Monaco.
The BMB Group
Josephine Kime, +1-212-317-8800
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
GEMALTO28.5.2018 07:02 | pressemeddelelse
Gemalto Announces Collaboration with Qualcomm Technologies to Integrate eSIM Innovation into the Snapdragon Mobile PC Platform
VA-CTA27.5.2018 22:02 | pressemeddelelse
CES Asia 2018 Announces Innovation Award Honorees
FCF-FISHERY26.5.2018 20:04 | pressemeddelelse
FCF: Greenpeace Allegations Unfair and Deceptive
IBC25.5.2018 20:22 | pressemeddelelse
NBC Universal, Havas Group and Endemol Shine Discuss a Future with AI, Blockchain and VR at IBC2018
THE-FRENCH-PAVILION25.5.2018 11:28 | pressemeddelelse
Pavilion of France at the 16th International Architecture Exhibition – La Biennale di Venezia
SIA25.5.2018 10:32 | pressemeddelelse
SIA Acquires Card Processing Businesses in Central and Southeastern Europe from First Data
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum