The Carlyle Group on Monday became the first global private equity group to raise a fund specifically for the Middle East and North Africa, after it collected $500m for energy, infrastructure and financial services investments in the region.
Two years after Carlyle launched its Middle East and North Africa team, with 12 people operating from offices in Cairo, Dubai and Istanbul, it has raised only half the $1bn it initially targeted for its debut fund in the region.
But Walid Musallam, hired by Carlyle from the Abu Dhabi Investment Company to run its new team, said conditions were improving for private equity investments in the Middle East and North Africa.
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