Former Soros Fund Management trader Ahmad Zuaiter has begun fundraising for his new frontier-markets hedge fund.
Zuaiter’s Jadara Capital Partners is expected to launch its maiden hedge fund in May or June, The Wall Street Journal reports. Zuaiter has spent more than a year preparing for that debut, and is now seeking to drum up interest from investors.
Zuaiter said the ideal size for Dubai-based Jadara would be between US$250 million and US$600 million. It is unclear how much the fund will manage at inception.
“Most of the asset management firms, particularly in the DIFC, tend to be asset-gathering focused,” Zuaiter told the Journal. “The predominant funds are the ones that export capital out of here. They’re geared toward gathering assets and then finding a product and putting assets in and selling that product. We’re the opposite, in a sense.”
Jadara will focus on stocks in countries like Argentina, Iraq, Morocco, Nigeria, Pakistan, Vietnam, the United Arab Emirates and Zimbabwe.
“Technology has changed everything, and the rate of globalization has also changed everything,” Zuaiter, who worked at Soros from 2006 through 2011, told the Journal. “It’s much easier for a company in many of our markets to be more integrated globally.”
Also easier: Visiting many of those countries from his Dubai base.
“I was taking to some of the U.S. funds, and it’s pretty much the same from there,” he said. “Argentina is very far from New York—I think it’s nine or 10 hours.”