Rudolph WAELS

Armalia Partners is a boutique advisory firm focused on fast-growing markets. Clients include, for instance, Mercer (an investment and HR consulting firm), and Oliver Wyman (a strategy consulting firm)

Family Office Setup, Restructuring, and Management (Targeted at Saudi Investors)
• Built a direct investment program for a family office.
• Sourced and managed transaction process for a $10 million investment.
• Monitored portfolio entities, including a K12 school and nursery.

Investments
• Deep Tech / Venture Capital Investments. Led due diligence, negotiations, and closings on Deep Tech investments (e.g. Drone & AI start up, Vertical Farming facility, etc.).
• Governance Framework. Defined governance framework of investment activities (e.g. investment policy, Investment Committee Charter, Investment Procedure).

Business Development
• Commercialisation Strategy. Prepared commercialization and investment strategies for Khalifa University.
• International Partnerships. Built multiple international partnerships at Khalifa University, including a joint research initiative with a British medical device company, and structuring a partnership for the Abu Dhabi campus of a leading medical school.
• Consulting. Supported university faculty to develop various consulting proposals.
• Continuing Education. Supported university faculty to develop Continuing Education programs.
• Real Estate. Reviewed a Public Private Partnership Project to build and operate student dormitories. Streamlined leasing processes and standardized templates for real estate activities.

Endowment & Fundraising
• Deep Tech & University Research Funding. Prepared a global benchmarking of university research funding, and development of deep tech start-ups.
• University Endowment. Monitored University Endowment
• Philanthropic Fundraising. Prepared fundraising policies and procedures.

Financial Planning & Analysis.
• FP&A. Led FP&A function for university projects.

Mercer Investments is the largest investment consultancy firm in the world (USD10.2 trillion in Assets under Advice, USD240 billion of Assets under Delegated Management, and 2,200 staff across 24 countries). We serve investors (Pension Funds, Asset Managers, Family Offices, SWFs) in many ways including :

1) Investment Advisory: We provide advice on a wide range of investment-related topics such as Portfolio Management, Governance Framework, Investment Strategy (including Strategic Asset Allocation, Portfolio Construction, Manager Selection & Due Diligence), Investment Operations (including review / re-tendering of custody arrangements, performance improvement, IT systems, etc.).

2) Investment Manager Research: We provide our Clients with access to our database (MercerInsight®) which cover 30,000+ strategies and information about 8,000+ investment managers.

3) Delegated Solutions: We leverage our in-depth knowledge of investment managers to provide delegated solutions for our Clients.

Founded in 1992 as one of the first private equity fund placement agents, we have completed over 140 fundraisings.

• Private Equity: Triago focuses on four to six private equity fundraisings each year for carefully selected general partners.
• Secondaries: With 25 years of activity within the private equity fund community, Triago is recognized as one of the leading specialized agents for secondary transactions.
• Strategic Advisory: Through daily interactions with all participants in the global PE market, both on the primary and secondary fronts, Triago constantly adds to the storehouse of information and expertise required to provide clients with concrete strategic solutions.

Armalia Partners is a boutique advisory firm focused on fast-growing markets. Clients include, for instance, Mercer, and Oliver Wyman.

Business Development (For Mercer or Oliver Wyman)
• Sourced and brought USD 750m of assets to Mercer for its asset management business.
• Sourced a consulting project for Oliver Wyman to advise a government-owned stock exchange to develop its market data revenues.
Management Consulting / Investment Management (For Mercer or Oliver Wyman)
• Advised a Public Pension Fund to build the right organization to super its investment strategy and asset growth (From $16 to 32 billion of assets) including restructuring its investments department, defining a new target organization, defining new job descriptions, setting up a new operating model, benchmarking existing compensation benchmarking, defining a target salary structure, structuring a long-term incentive scheme, and defining an implementation roadmap.
• Defining Governance Framework, Target Organization, Job descriptions, Investment Policy Statement, Strategic Asset Allocation, as well as Investment and Monitoring Procedures for an asset manager.
• Defining investment processes for a large Asset Manager looking to develop joint ventures in Saudi Arabia with international or local partners.
• Selection of board members, and definition of a governance model for a tech company
• Training an investment team on business valuations and financial modelling for a large Sovereign Wealth Fund.
Family Office/Restructuring/Management (for Saudi Investors)
• Setting up a direct investment/family office (prepared investment strategy, business plan, budgets, etc.)
• Sourced and reviewed 200 deals between $1m and $50m in IT, Healthcare, Education, Business Services, and Consumer/Retail sectors.
• Prepared valuation and transaction documentation for a $10 m investment
• Portfolio company monitoring (financial statements analysis, cashflow forecasts, CFO recruitment, etc.) for a K12 school and nursery.

ICD (Islamic Corporation for the Development of the Private Sector) is the private sector focused subsidiary of the Islamic Development Bank. ICD is to IDB what IFC is to the World Bank.

CEO Advisor
• Development of a Private Equity Fund focused on the Healthcare Industry
• Development of a Private Equity Fund focused on the Islamic Banking Industry

Direct Investments & Financing
• Investment Strategy, Business Plan, Budget Preparation
• Managing a team of 20 people, Recruiting
• Restructuring (Regionalization, Decentralization, New Product Development, Portfolio Monitoring Process, Process Improvement, etc.)
• Sourcing, Processing and Monitoring equity, and debt investments in various sectors in the Middle East, Africa, Turkey & Central Asia, South and South East Asia
• Best performing year in the history of the direct investments department: volume and quality of term finance approvals)
• Member of several Investment Committees (ICD, Private Equity, Money Market Fund)
• Member of Asset Liability Management Committee
• Member of Management Committee of ICD

Armalia Partners assists major Institutional Investors/Family Offices - from different parts of the world - to invest in private equity funds or directly in firms from Europe/North America/Asia with international expansion potential in the Middle East and Africa.

This can include:
- Investment in a European/North American/Asian firm with a development potential in the Middle East and Africa, with the right local partners
- Portfolio Management/Strategic and Operational Consulting to businesses seeking growth opportunities in the Middle East and Africa (International Joint Venture/International Expansion/New Business Development)
- Capital Raising & Introductions (strong network in Europe, Middle East, and Africa)

Private Equity (selected examples)
• Deal by deal project to identify and accompany European/North American/Asian firms with a growth potential (distribution, greenfield, acquisition) in the Middle East and Africa, with the right local partners.
• Europe - Middle East International Investment Vehicle: Structuring a partnership with a $2.1 billion European private equity fund with a strong track record (150 exits since 2003 with a 23.4% IRR) to launch a € 100 to 150 m Europe – MENA private equity fund. Prepared PPM. Built investment team and deal pipeline.
• UAE Local Investment Vehicle: Structuring a partnership between Armalia Partners and a €300 m private equity firm to launch a local private equity fund in the UAE.
• Algeria Local Investment Vehicle: Structuring a partnership between Armalia Partners a €200 m private equity firm to launch private equity fund in Algeria.

Advisory (selected examples)
• Advised a Qatari organization to launch an SME investment vehicle operating across the MENA region.
• Advising private equity funds and businesses to raise capital in the Middle East

I am available on Tel/WhatsApp: + 971505918172 or by email at rwaels@armaliapartners.com

Armalia Partners assists major Institutional Investors/Family Offices - from different parts of the world - to invest in private equity funds or directly in firms from Europe/North America/Asia with international expansion potential in the Middle East and Africa.

This can include:
- Investment in a European/North American/Asian firm with a development potential in the Middle East and Africa, with the right local partners
- Portfolio Management/Strategic and Operational Consulting to businesses seeking growth opportunities in the Middle East and Africa (International Joint Venture/International Expansion/New Business Development)
- Capital Raising & Introductions (strong network in Europe, Middle East, and Africa)

Private Equity (selected examples)
• Deal by deal project to identify and accompany European/North American/Asian firms with a growth potential (distribution, greenfield, acquisition) in the Middle East and Africa, with the right local partners.
• Europe - Middle East International Investment Vehicle: Structuring a partnership with a $2.1 billion European private equity fund with a strong track record (150 exits since 2003 with a 23.4% IRR) to launch a € 100 to 150 m Europe – MENA private equity fund. Prepared PPM. Built investment team and deal pipeline.
• UAE Local Investment Vehicle: Structuring a partnership between Armalia Partners and a €300 m private equity firm to launch a local private equity fund in the UAE.
• Algeria Local Investment Vehicle: Structuring a partnership between Armalia Partners a €200 m private equity firm to launch private equity fund in Algeria.

Advisory (selected examples)
• Advised a Qatari organization to launch an SME investment vehicle operating across the MENA region.
• Advising private equity funds and businesses to raise capital in the Middle East

I am available on Tel/WhatsApp: + 971505918172 or by email at rwaels@armaliapartners.com

Aabar is a Sovereign Wealth Fund, based in Abu Dhabi. Aabar has more than $10 billion under management across diverse industries including: automotive (biggest shareholder in Daimler), real estate, financial services, infrastructure, and aerospace.

Manufacturing
• Investment in Daimler followed by several international expansion projects in the automotive industry in Algeria. Key joint venture partners included Aabar Investments, the Algerian Government, Daimler, Ferrostaal, Rheinmetall, Daimler, Deutz and MTU

Agriculture & Food
• Led the effort of Aabar to define and execute an investment strategy for the food security of the UAE.

Financial Services
• Led a Micro Finance and Bottom of the Pyramid investing initiative, with a particular interest in accelerating the development of Micro Finance in the Arab world.

Real Estate & Hospitality
• Led an investment in a hotel & convention center in Jordan

Private Equity
• Monitored a joint investment partnership in Europe.

I joined FGB to restructure its existing direct investment portfolio and to set up a $500m regional private equity business. In February 2009, FGB received a capital increase from the UAE government under specific conditions. One of them was to close several of its non commercial banking activities, including its private equity business.

Private Equity - Set Up a Private Equity Business focused on the MENA region
• Strategy & Budget: Prepared investment strategy, detailed budget, and PPM outline.
• Legal Structure: Initiated legal structuring of PE Fund.
• Incentive Scheme: Structured multi-office compensation plan for PE team.
• Recruiting: Managed recruiting process for three offices in Abu Dhabi, Istanbul, and Cairo.
• Investment Process: Structured investment process (sourcing, assessment, monitoring, etc.)

Private Equity – Assess, Monitor, and Restructure Existing Investments
• Real Estate Investment: a $270 m real estate investment portfolio in labor camps and warehouses. Reviewed five investments with a team of lawyers and real estate experts, identified various negotiation angles, and structured several exit strategy plans.
• Turnaround/Distressed Investment: a $5 m investment in a distressed construction business with 1200 employees. Prepared an investment review, changed auditors, recruited transaction manager, and suggested several solutions to restructure transaction.
• Venture Capital Portfolio: a $10 m portfolio of start up investments managed by FGB for a third party.

Private Equity - Source & Manage New Deals
• Regional Growth Equity Investment: Personally sourced, and executed a club deal transaction in Egypt, Saudi Arabia, and United Arab Emirates. This $25 m investment ticket was sourced and approved by my investment committee three months after my joining of First Gulf Bank.
• Launched corporate initiative to map attractive investment opportunities among FGB clients.

Swicorp is a financial advisory and private equity firm focused on the Middle East and North Africa region (MENA). I joined Swicorp Private Equity in what was a true start up environment. Today Swicorp Private Equity manages $1.3 billion across three funds.

Private Equity - Intaj Capital & Emerge Invest funds - $150 m fund (each)
• Deal sourcing in Tunisia, Algeria, and Morocco. I was based in Tunis, and travelled to Algeria and Morocco on a monthly basis.
• Business valuation, letter of intent negotiation, due diligence coordination, debt raising (LBO), deal structuring and closing.
• Industry experience: Sanitary paper, Paint, Specialty retail, Food, Retail, Insurance, Steel.
• Privatization of a leading paint manufacturer in Algeria.
• Regional build up transaction in Tunisia, Algeria, and Libya for a leading diaper manufacturer.
• Regional build up transaction in Tunisia, Morocco, and France for a car equipment manufacturer.
• Turnaround transaction for a Printed Circuit Board manufacturer based in Tunisia and Germany.

Private Equity - Mena Water Ventures - $67 m Corporate Venture fund with Danone
• Researched bottled water sector in the Mena Region.
• Assessed business plans and development strategies in collaboration with industry expert (top executive from Henkel/Danone)
• Prepared valuation model.
• Supervised commercial, financial, legal and operational due diligences.
• Negotiated debt restructuring agreement for a turnaround opportunity.
• Deal structuring and contract negotiation.
• Defined detailed action plan for first 100 days post closing.

Mergers & Acquisitions - Corporate Finance
• Distressed M&A: Prepared information memorandum for a distressed M&A mandate for a leading couscous and pasta brand in Tunisia
• Debt Raising: Prepared banking memorandum and negotiated a USD 20 millions financing in local currency field for a green project in the Algerian food industry for Savola, a Saudi Group.