Investing in Frontier Market is the strength of our Firm.
LR Global Bangladesh Asset Management Company (BAMCO) is an affiliate of LR Managers Investments, a New York based investment holding company, operating in Bangladesh. It is the most experienced and only multinational asset management company in Bangladesh with a strong track record, and a dynamic team with strong local knowledge. LR Global BAMCO obtained asset management license in late 2008. The company launched its first mutual fund in February 04, 2010. Total asset (including future mandates) managed by LR Global BAMCO is USD 172mn (USD 120mn currently invested and USD 52mn commitments).
The Firm has a strong track record of investing in frontier markets for over 17 years, significantly more than any other asset managers in Bangladesh. Our extensive experience and proven track record of converting obstacles of the frontier market into opportunities, has allowed our onshore investors and issuers have remarkable confidence in us and entrusted us with the management of the mutual funds sponsored by 14 of the top financial institutions.
The Firm was incubated within Rockefeller & Co., the family office started by John D. Rockefeller in 1891. The Firm was founded in June 1997 by our principals, Leon Levy, his partner Jack Nash, and the Rockefeller family. Founding partners applied a successful investment philosophy and a disciplined investment process that applies to all the affiliated companies including LR Global Bangladesh.
Most of the principals worked at Rockefeller & Co. at some point in their careers. More recently, Reaz Islam joined the team last year after a distinguished 18-year career at Citigroup, with the last 12 as the CEO of their Fixed Income Alternatives group and Senior Manager of Citigroup.
Our competitive advantage continues to be our investment process and our unique ability to leverage long-standing relationships in frontier markets to source undiscovered opportunities.