INVEST AD, the Abu Dhabi Investment Company and Japan's SBI Holdings, Inc. are investing in a new joint private equity fund worth $100 million and focused on acquisitions in Turkey.
In a joint statement issued in Abu Dhabi and Tokyo today, the two companies said that the fund, to be jointly managed by the two companies through an office in Istanbul, will supply growth capital and employ its international networks and expertise to help promising companies to improve economies of scale, grow market share and expand overseas.
Invest AD and SBI will invest equally in the fund, which is looking at opportunities in several sectors, including consumer goods, food, retail, services and pharmaceuticals and healthcare. The partners may consider taking on other investors for specific deals.
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