​EFG Hermes, today announced that its Middle East and North Africa (MENA) Opportunities Fund has raised USD 1 billion in assets under management (AuM). Since its inception in September 2007, the Fund has delivered a blended return of 31% (as of July 31st ). The USD 1 billion MENA Opportunities Fund is one of the first hedge funds to be launched in the region, with a long-short mandate and the ability to invest a portion of its asset base in unlisted securities offering incremental value since the region presents attractive opportunities for private equity-type transactions. Commenting on the success of the Fund, Hashem Montasser, Head of Asset Management and Fund Manager of the MENA Opportunities Fund said, “We are extremely pleased with the level of success the Fund has achieved in its first year of operation, both in terms of return to investors and assets under management. The strong appetite for this Fund from regional and international institutional investors is a testament to the growing importance of the MENA region as an investable universe on a global basis. As Middle East markets become more mature, investors will invariably seek alternative investment products that can offer high risk-adjusted returns through different market cycles,” he added.