Invest AD, an investment firm owned by the Abu Dhabi Government, plans to launch a US$400 million (Dh1.47 billion) private equity fund to take stakes in companies across the region.
The Invest AD Private Equity Partners II fund will acquire stakes in as many as 12 firms in countries potentially including Egypt, Turkey, Saudi Arabia and the UAE, said Samir Assaad, the head of private equity at Invest AD.
The fund’s launch comes as welcome news to an industry that has seen deal-making in the region grind to a virtual standstill. While more than $3bn worth of private equity deals were done in the Middle East in 2007, according to one estimate, that total declined to about $500m last year. Only a few deals have been announced so far this year.
No comments:
Post a Comment