Kamalesh Sharma spoke about Commonwealth Secretariat feasibility studies which have unlocked other investment funds, particularly in Africa, and its training programmes building capacity for Asian small and medium enterprises in whom Aureos had invested.
Commonwealth is an investor in values, people and ideas
3 November 2008
Partnership with fund manager aims to promote and strengthen investment in member countries
While Aureos, a leading fund manager, is an investor in the simplest financial sense of the word, the Commonwealth Secretariat is an investor in values, people and ideas, and in building capacities, Kamalesh Sharma has said.
“In particular, we invest in those who need us most – the smallest most vulnerable states,” the Commonwealth Secretary-General said in a speech at the Secretariat’s headquarters in London, UK, on 3 November 2008.
Mr Sharma spoke to senior representatives from Aureos and the Secretariat about the important partnership between these two investors that are both in pursuit of the shared objective of achieving prosperity – and peace – for all.
Aureos
Aureos Capital Limited is a leading global private equity fund manager which focuses on investments in small to mid-cap enterprises in emerging markets worldwide.
He gave an example of how this partnership works in the US$16 million investment fund for the Pacific region.
“It is through the skills and expertise of Aureos that these sums have been made available,” the Secretary-General explained. “But the fund only got off the ground when the Secretariat made the case to the Australian and New Zealand Governments, and won from them their financial support – to the tune of £300,000 – to cover the Aureos costs of operating in the region.”
He gave other examples of Commonwealth Secretariat feasibility studies unlocking other investment funds, particularly in Africa, and its training programmes building capacity for Asian small and medium enterprises in which Aureos had invested.
At the heart of the Commonwealth’s interest and support for investment is a concern for the welfare of all 2 billion people who are part of the 53-country association, he observed.
“Investment is an essential part of promoting that prosperity, but it is not the only one,” Mr Sharma said, adding that countries need support for their trading infrastructure and a rules-based and multilateral trading system, which moves away from the potential imbalance and exploitation in bilateral trade deals.
The Secretary-General noted that the initial barrier which the fund manager and the Secretariat worked to break down, with success, is the perception of excessive risk among foreign investors.
“Now, there are new frontiers: not least in attracting domestic investment. If developing countries believe in themselves they will keep and invest their money in their countries.”
Click here for the full text of the Secretary-General’s speech
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