MONTE CARLO, Monaco -Thursday, May 11th 2017 [ ME NewsWire ]
HSH Prince Albert II of Monaco commented: “The Monaco Investment Corporation will change the way sovereign wealth and private investors engage with large cap investments globally. The founders of Scepter and I have both reaffirmed our commitment to back this institution and we will proactively use our capital and relationships for its success. We believe in the financial initiatives and strong leadership of Scepter and we are confident that the MIC will grow into an institution for which we can all be very proud.”
Scepter was established by members of Asian & Gulf based ruling families who assembled a standing syndicate of sovereign investors around $14 billion of discretionary assets from Scepter stakeholders. HH Prince Abdul Ali Yil Kabier, a Prince of Brunei and co-founder of Scepter affirmed: “Their Highnesses and I are collectively committed to supporting Monaco becoming a major player in global direct investment and building value for stakeholders through the lens of sustainable development. We have absolute confidence in Scepter’s leadership and support the development vision of HSH Prince Albert II of Monaco.”
Mr. Withanage, executive chairman of Scepter commented, “We are dedicated to thoughtfully building the MIC into a globally orientated corporation that combines world class investors and operators to develop a powerful stable of companies.” The corporation will be a supranational investment vehicle, exclusively open to sovereign and institutional investors. During its inaugural year, however, the corporation may invite select Forbes 500 families who are residents or friends of Monaco. These families are chosen by geography and industry focus as founding investors in the corporation and part owners of the management company. Mr. Mark Thomas, Vice Chairman of The Sovereign Trust, Scepter's largest shareholder added: "The MIC is the first time a sovereign direct investment structure marries significant long term capital with some of the most successful individual investors in the world. The MIC exists to work with one of Monaco’s most compelling assets, its friends and residents."
The MIC shall initially capitalize upon Scepter’s unique confluence of operating expertise in financial services and natural resources. Leadership will focus its energies primarily over the next few months on the MIC’s early investments and also decide the appointment of internal investment managers and financial institutions to serve the corporation. The MIC is positioned to work exclusively with those global financial institutions that have committed to activities in Monaco and to absorb investment managers who wish to move to a permanent capital platform. Scepter is moving its leadership to Monaco, where it is establishing its global headquarters.
For more information, please visit www.scepterpartners.com.
Christopher Winans, 1-212-885-0381
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