By: Shwan Zulal
Mr Hayward told FT in June: "Vallares will not use the capital it raises to buy assets for cash “because we have no competitive advantage in doing that”. Instead, the company will target an emerging market player with “good quality assets that have neither the capital nor the capability to move them forward but by the same token don’t want to sell out”.
It has been reported in the Sunday Times that former BP boss, Tony Hayward, and his investment vehicle Vallares, which he has set up with Nat Rothschilds, have made a move on the Turkish Genel Enerji. Since leaving BP, Hayward's fund attracted many inventors including BlackRock, Paulson and Co Hedge fund and Mubadala among many others.
