Saturday 22 October 2011

gulfnews : Abraaj to invest in Southeast Asia resources

Abraaj Capital Ltd, the Middle East's biggest private equity firm, plans to invest part of a $2-billion (Dh7.35 billion) fund in Southeast Asian natural resources to meet rising regional demand for coal, metals and agricultural products.

Copper and tin mines in Indonesia, as well as ancillary services tied to mining or agriculture, are of interest to Dubai-based Abraaj, Aman Lakhaney, a principal at Abraaj Capital Asia Pte, said in an interview in Singapore. Agriculture-related investments will be focused primarily in Vietnam and Malaysia, he said.

Abraaj would follow funds including Nathaniel Rothschild's Bumi Plc into Indonesia, Southeast Asia's largest economy. The country supplies energy-assets and commodities to Asia's fastest-growing economies including China, where companies have announced or completed $64.1 billion in natural resource takeovers this year, according to data compiled by Bloomberg.

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