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BMB refocuses business on Forbes 500 Families

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The BMB Group, founded in 2006 by members of Asian and Gulf based ruling families, has refocused its business to provide capital and specialist advice exclusively for Forbes 500 families.

As part of these changes, former Chairman and CEO Rayo Withanage (pictured) has handed the reigns of BMB to Rahula Withanage as he moves on to run Scepter Partners with Anthony J Steains and his former Blackstone Asia Advisory Partners team.
 
Though no longer part of BMB’s management, Rayo Withanage will still retain an important role in the future of BMB as one of its investors. Scepter has committed USD2 billion for BMB to develop transactions and operating businesses that can be meaningful and transformative for Forbes 500 families.
 
Co-founder and owner HH Prince Abdul Ali Yil Kabier of Brunei says: “We hope that some of BMB’s activities may generate investment opportunities for Scepter as a co-investor in the future. Scepter seeks to maintain a good working relationship with BMB in instances where large commitments may be required."
 
As the new CEO of BMB, Rahula Withanage adds: "BMB is committed to servicing its present partners and growing its capabilities in its specialization under independent management and governance. BMB will continue to deepen partnerships with some of the largest family offices in the world, where these partners wish to develop new business lines and grow existing businesses, particularly in natural resources, real estate, hospitality, and media and technology. BMB is particularly focused on situations where partners wish to buy out minority stakeholders, consolidate controlling positions and obtain expansion capital for the acquisition of new businesses.”
 
In addition to providing capital solutions BMB will continue to provide specialist advice in the form of business development and strategic advisory services, with a focus on emerging markets of Asia, Latin America, CIS and the Middle East. We exist to make a meaningful contribution to the endeavors of our family partners.

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