Iran
2015-2018
€258.2bn
Our Focus
Gryphon market entry
Iranian equity market
p/e: 8.8x
Expertise

Together with our local partner, we actively entered the market as one of the first western investment firms to do so following the lifting of sanctions under the JCPOA agreement.

During this period, we developed significant expertise in the Iranian market, which is the last major emerging geography globally where foreign investment is substantially blocked.

Since the re-imposition of US sanctions following the withdrawal of the US from the JCPOA, we suspended our activity on the market but hope to resume in the event that a new political agreement is reached.
Country Summary

Opportunities for Iranian groups include:

  • Large, demographically attractive and underserved consumer base
  • Large b2b market with substantial domestic industries in all sectors
  • Major tourism and inward real estate investment opportunities
  • Requirement for foreign expertise, which will find it difficult to enter the market without a partner

Attractions for inward investors include:
  • Very high local capital costs
  • The last major untapped emerging market opportunity
  • Specific technical expertise plus capital is welcome
110% of GDP
Areas of Interest

In Iran, we focus on a limited number of investment banking opportunities with our local partner.