Charlemagne Capital

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"Dominic Bokor-Ingram recently visited a growing economy full of well-run companies that the London-based money manager deemed ripe for investment. The catch: The place was Tehran, a target of grinding international sanctions. 'I've been to countries where things are booming and it looks great, but never with the level of infrastructure Iran has,' he said. A handful of intrepid institutional investors like Mr. Bokor-Ingram, an investment manager who works for the U.K.'s Charlemagne Capital, are considering an entry into Iran, one of riskiest frontiers of global equities. Eager for a competitive edge, they are planning joint ventures, hiring staff and bracing for what can be a capricious business environment. Iran's $100 billion stock market is a major focus, given that there is no limit on foreign investment and they view it as severely undervalued... Unlike multinationals, companies like Charlemagne and London-based First Frontier Capital don't have a presence in the U.S., where restrictions on dealing with Iran are harsher than in Europe... First Frontier, a boutique investment bank, also announced plans in April to set up an investment fund with Tehran's Agah Group. As with the Charlemagne-Turquoise deal, First Frontier is trying to combine its ties to non-Iranian institutions with Agah's knowledge of the local market to take advantage of the opening." (The Wall Street Journal, "Investors Eyeball Iran Market", 6/14/15) (http://www.wsj.com/articles/investors-eyeball-iran-market-1434322701)

"A British asset manager is teaming up with a Tehran-based firm to establish funds that will invest in the Iranian securities markets, in a sign that flows of foreign money into Iran may not wait for economic sanctions to be lifted. London-based Charlemagne Capital, an emerging market asset management group with about $2.5 billion under management, said on Tuesday it would set up and promote the funds jointly with Turquoise Partners. The interest of foreign investors in Iran has been ignited by last week's preliminary agreement between Tehran and world powers on curbing its nuclear programme." (Reuters, "UPDATE 1-Britain's Charlemagne plans Iran investment funds before sanctions lifted," 4/7/15) (http://uk.reuters.com/article/2015/04/07/iran-charlemagne-cap-funds-idUKL6N0X41XN20150407)

According to Bloomberg “Charlemagne Capital Ltd. partnered with a Tehran firm to buy stocks and local-currency Iranian bonds that yield more than 20 percent.” (Bloomberg, “Iran’s London Charm Offensive Clouded by Wariness Over Sanctions,” 5/18/2016). (http://www.bloomberg.com/news/articles/2016-05-18/iran-s-london-charm-offensive-clouded-by-wariness-over-sanctions)