The Money Behind The Asteras Buyout

Ferit Şahenk graduated from The American School in Switzerland (TASIS) and earned his Bachelor's from Boston College, in Marketing and Human Resources in 1989. After graduation, Şahenk returned to Istanbul, where he interned at Doğuş' Garanti Bank honoring his father's wishes. After eight years he moved to the holding company, and beginning in 1998, he acquired two food retail chains and operated NTV, funding the expansion by selling part of the group's Garanti Bank to the public. Understanding that top talent is essential to running a diverse group, he also created a recruitment division, named Humanitas.

He pioneered financial services like, insurance and cashback reward schemes like those of Discover Card in the United States, still uncommon in Turkey at the time.

He also runs Turkish media outlets with more than 10 percent of country's advertising market. His media's flattery of the government and the Turkish PM has been widely criticized and protested by Turkish citizens. Bankrolled Gallipoli, a movie about the seminal Turkish military battle against the Allied offensive. On January 28, 2006 Şahenk threw a reception during the World Economic Forum meeting in Davos, Switzerland.

Astir Palace Vouliagmeni SA, a subsidiary of the National Bank of Greece, is a Greece-based company engaged in the operation and management of tourism and hospitality enterprises.

The fund, which represents investors from Turkey, Abu Dhabi, Dubai, Kuwait and other Emirates made the largest offer to the TAIPED privatization organization for 90% of the hotel’s shares.

The other participants in the competition, TEMES of the Olayan Group, Colony Capital Acquisitions LLC and Dolphin Capital Investors LTD fell short, made offers between 240 and 310 million euros, which fell short at the end.

AGC is an investment fund in the Middle East, based in London, which invests around the world and has participated in the share capital of private hedge funds and investment real estate companies in Europe and North America. It also participates in investment projects that affect the real estate market. Capital comes mainly from Abu Dhabi, Kuwait and Saudi Arabia.

Dogus Holding is one of Turkey's major holdings, participating in the banking, construction and tourism sectors. Dogus controls the 18% of shares of the marinas in Turkey and six marinas in Croatia. In 2012, it established a joint venture with Lamda Development of the Latsis Group for investment in Greece, including the Flisvos Marina. The fund invested in 2012 in the Russian energy market buying the Enel OGK-5 power plant.

The people behind AGC Fund are:

Walid Abu-Suud is the Co-CEO of AGC Equity Partners Limited. Mr. Abu-Suud has extensive global equity and debt investment experience and has strong relationships within the London investment community, as well as with sovereign funds and with the investment banking, private equity and hedge fund communities. He has a B.A. in Economics from Harvard (1984) and an M.B.A. in Finance from Wharton (1988).

Laurent Souviron is a Managing Director of AGC Equity Partners. Mr. Souviron has more than 22 years of investment banking and private investment experience. He holds an M.B.A. in Finance and a B.S. in Operations Research from Columbia University where he was recipient of the Sebastian B.

Littauer Award for outstanding promise of achievements in Operations Research.

Khalil Amiouni is the Co-CEO of AGC Equity Partners Limited. Mr. Amiouni is a Chartered Financial Analyst and a Chartered Alternative Investment Analyst. He has a B.S. in Economics from University of California at Berkeley.

Georges Khoueiri is a Managing Director of AGC Equity Partners. Mr. Khoueiri has been recognized as the top performer in the alternative investment area in each bank he has worked for and has raised significant capital for numerous third party hedge funds, distressed asset funds and private equity managers as well as raising funds for structured derivatives. He has a post-grad degree in Finance and Insurance from Paris-X University and ESSEC School.

As announced by TAIPED, its board will meet with the National Bank of Greece board this week to make the final decisions. The Astir Palace Resort sale provoked reactions from the local municipality and opposition parties.