XE Capital and Ashish Saraf Announce Joint Venture to Originate and Develop Real Estate Assets in India.Partnership Will Mark Continued Penetration of Indian Real Estate Market by XE Capital, a U.S.-based Asset Management and Specialized Structured Finance Firm NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- XE Capital Advisers, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("XECA"), a registered investment adviser and a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of XE Capital Management, LLC ("XECM" and collectively with XECA, "XE"), a structured finance and investment management firm and Ashish Saraf announced today a joint venture to invest in Indian real estate. The joint venture will mark XE's continued penetration into the Indian real estate market. XE first invested in Indian real estate in January 2006. XE's funds currently have combined investments of approximately $93 million in India including eight projects in eight cities. XE's senior management team consists of finance industry pioneers with a consistent track record of building successful structured finance and asset management businesses. The New York-based firm identifies and executes its own proprietary structured real estate finance products. Ashish Saraf is a leading Indian industrialist and a skilled businessman with extensive relationships within India's business. In addition to being a Joint Managing Director of Ferro Alloys Corporation Ltd. ("FACOR"), part of an industrial conglomerate conglomerate, in business conglomerate, corporation whose asset growth, often very rapid, comes largely through the acquisition of, or merger with, other firms whose products are largely unrelated to each other or to that of the parent company. based in India, he is also the Chairman of Saraf Enterprises. "This alliance reflects a partnering of investment expertise and Indian market knowledge that XE and Ashish Saraf have gained growing and managing their respective businesses," said Shane Gadbaw, XECM's head of business development. "XE's real estate activities will benefit from Ashish Saraf's solid local business and administrative links and connections while also capitalizing on XE's investment and real estate capabilities." "XE is committed to help shape the landscape of the Indian real estate market. This joint venture is a continuation of my commitment to further contribute to the economic development of India, as my family, through our company FACOR, has since 1956," said Ashish Saraf. "India and the real estate worlds are colliding, now is an opportune op·por·tune adj. 1. Suited or right for a particular purpose: an opportune place to make camp. 2. Occurring at a fitting or advantageous time: an opportune arrival. time to establish a platform," said XECM Chief Executive Officer Michael Szymanski. "In India, the young and increasingly wealthy middle-class are buying homes at an unprecedented rate. It's not easy doing business in India and it is essential to have the right local partner." The XE team believes the Indian real estate industry is in an early growth stage. XE's strategy seeks to maximize returns and minimize competition in a market with significant global interest by focusing primarily on Tier II and Tier III cities. Tier II and Tier III cities are smaller cities, with a population of approximately one million that offer available development opportunities and affordable prices. XE will pursue select opportunities in Tier I cities as well. XE expects that the real estate properties to be acquired and/or developed will include residential, retail, commercial, industrial, hospitality, mixed-use, and specialty properties, in addition to real estate transactions related to the infrastructure of the foregoing types of properties. About XE XECM is an independent asset management and specialized structured finance firm with a focus on complex financial transactions, alternative assets Alternative Assets A term referring to non-traditional assets with potential economic value. Notes: Examples of alternative assets include art and antiques, precious metals, fine wines, rare stamps and coins, and other collectibles such as sports cards. and related derivatives, and certain other structured financial products. The XE team consists of financial industry innovators innovators people who will try new things. early innovators important figures in the farming or client community because they are the leaders in the introduction of new techniques and management systems. with a consistent track record of building successful and pioneering businesses. XE's founders together have managed investments of $15 billion in approximately one thousand global hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" managers through direct investment and structured products, building solid relationships with leading fund managers, major financial institutions and premier investors. To learn more about XE, call (646) 253-6400 or visit XE's Web site at www.xecapital.com. About Ashish Saraf Ashish Saraf is a member of the Saraf Family which controls the FACOR/Saraf Group of Companies. Mr. Saraf is the Chairman of Saraf Enterprises and Joint Managing Director of Ferro Alloys Corporation Ltd. The FACOR/SARAF Group of Companies was founded in the pre-independence days of India by the late Shri Rai Bahadur Ba`ha´dur n. 1. A title of respect or honor given to European officers in East Indian state papers, and colloquially, and among the natives, to distinguished officials and other important personages. Durgaprasadji Saraf. From a humble beginning in the late 40's FACOR has flourished over the years to become a leading producer of Ferro Chrome, specialty steel long products, and power and mining technologies in India. The total group revenues are in excess of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $200 million per annum Per annum Yearly. with a majority of thrust in exports. Nothing in this press release constitutes an offer or a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any securities or fund interests. Any such offering will be made to qualified investors through means of a Confidential Offering Memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. . |
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