Mena Capital set to launch world's first Arab-focused long/short fund

London's Mena Capital is planning an equity fund investing long/short in the Arab world and Turkey. This is the first hedge fund for a region, that up to now has barely appeared on the radar screens of the hedge fund community. Khaled Abdel Majeed, founder of Mena Capital, says the fund will target 15%-20% net annual returns over a cycle after its launch, which is slated for September or October. The fund, prime brokered by Citigroup, is being domiciled, and possibly also listed, in Bahrain, thereby improving the chances of it being granted access to the Saudi and UAE markets, still large...