Who we are.
Two decades of experience focused on advisory services and financial asset restructuring.
Serendib Capital Limited, often referred to as Serendib, traces its roots back to Colombo, Sri Lanka in 2003. With a seasoned team of principals and a well-rounded advisory board, boasting over three decades of collective experience across various asset classes and global markets, Serendib has consistently demonstrated its expertise in the financial sector.
Our founding story
One of the hallmark achievements of Serendib founder's occurred in 2003 when they were entrusted with the task of rescuing and restructuring Union Bank Limited.
This undertaking marked a significant milestone, being the first and only private sector restructuring of a full-service bank in Sri Lanka. The strategy involved a long-term capital injection and a comprehensive recovery program targeting distressed assets within the bank’s loan portfolio. Remarkably, this endeavor reached maturity in August 2023, resulting in the full recovery of the initial capital investment, coupled with a rewarding 25-fold return at the bank’s listing in 2012.
Serendib’s remarkable success story extends beyond Sri Lanka. The firm made impactful strides in Bangladesh through an investment in and the restructuring of Lanka Bangla Finance, an investment bank. This endeavor yielded an exceptional 50-fold return for the investment group, starting from their involvement in 2003, a public listing in 2006, and an exit in 2011. In 2011, Serendib’s Managing Partner played a pivotal role in structuring, conducting feasibility studies, and securing funding for a REDD (Reducing Emissions from Deforestation and Forest Degradation) project in Cambodia. This highlighted the firm’s commitment to sustainable and environmentally conscious investments.
Impactful Strides Beyond Sri Lanka
Serendib’s founder’s success extends beyond Sri Lanka. Through a co-investment with Sampath Bank Limited the firm made impactful strides in Bangladesh through an investment in and the restructuring of Lanka Bangla Finance, an investment bank. This endeavor yielded an exceptional 50-fold return for the investment group, starting from their involvement in 2003, a public listing in 2006, and an exit in 2011. In 2011, Serendib Capital’s Managing Partner played a pivotal role in structuring, conducting feasibility studies, and securing funding for a REDD (Reducing Emissions from Deforestation and Forest Degradation) project in Cambodia. This highlighted the firm’s commitment to sustainable and environmentally conscious investments.
Strategic Shift to ESG Investing
Recent years have witnessed a strategic shift for Serendib, with a heightened focus on opportunities within the ESG (Environmental, Social, and Governance) sector. One of their first moves was the acquisition of a substantial 22% stake in a bioethanol plant located in Thailand. This plant had faced challenges during the COVID-19 pandemic. Serendib is actively engaged in a capital restructuring process for the plant, with plans for refurbishment, expansion, and ultimately, a public listing in Bangkok.
Blue Carbon Projects: A Multifaceted Approach
Moreover, Serendib Capital has acquired concessions to develop Blue Carbon projects and maintains a robust pipeline of forthcoming projects soon to commence. Their multifaceted strategy extends beyond generating revenue for governments; it directly impacts indigenous communities, at-risk ecosystems, and vulnerable flora and fauna. Serendib’s approach is hands-on, with active engagement in the very communities their projects aim to benefit. The collaborative efforts with Serendib will not only grant a voice but highly respected seats at various decision-making tables. With a substantial pipeline of transactions, the firm aims to play a pivotal role in formulating global, regional, and local policies for the protection and preservation of marine and forestry ecosystems.
Tangible Benefits for Local Communities
Serendib’s carbon projects are implemented in close collaboration with local communities, ensuring that the benefits are directly shared with those who need them most. We provide communities with the tools and resources they need to develop and implement their own sustainable development initiatives. This includes training on sustainable agriculture practices, renewable energy technologies, and community-based forest management.
By empowering communities to take ownership of their own sustainable development, Serendib is helping to build a more resilient and equitable world. Our work is contributing to the transition to a circular economy, where resources are kept in use for as long as possible and waste is minimized. This is essential for achieving our climate goals and creating a more sustainable future for all.
Learn more about how we work.
Meet the team
Our Senior Leadership
Rafat Rizvi
Christian Elemele
Mazhar Latif
Members of our Advisory Board
Dr. Takeo Hirata
Dr Rutsel S J Martha
Jeffrey Davis
