Samena Limestone HoldingsWe initiated our first co-investment in RAK Ceramics via Samena Limestone Holdings (a Cayman based 5 year fixed term company). In June 2014, Samena Capital led a consortium of sovereign wealth funds,
institutional investors, family conglomerates and high net worth individuals from across the GCC to acquire 31% of RAK Ceramics, one of the world’s largest manufacturers of premium quality ceramic tiles, tableware and sanitary ware. RAK Ceramics
is listed on the Abu Dhabi Stock Exchange, and operates production facilities in the UAE, India, and Bangladesh; supplying to over 160 countries.
Our investment in RAK Ceramics constitutes our largest endeavour, both in terms of investment size
and the scale of our portfolio management activities to date. Since investing in the company we implemented a Value Creation Plan that has transformed the business into a world class ceramics producer with a ‘lifestyle solutions’ offering.
In May, 2021 we successfully exited our investment in RAK Ceramics and the proceeds were distributed to our shareholders in June 2021.