Dubai's Abraaj Capital acquired the North African private equity operations of French asset manager Amundi, it said on Sunday, aiming to beef up its presence in the fast-growing region.
Abraaj, the largest Middle East private equity firm with assets under management of $6.2 billion, will manage the $161 million SGAM Al Kantara Fund and absorb the 11-member Amundi investment team as part of the deal, it said. The company also acquired Amundi's stake in the Kantara Fund.
It did not disclose the total value for the transaction.
Abraaj, the largest Middle East private equity firm with assets under management of $6.2 billion, will manage the $161 million SGAM Al Kantara Fund and absorb the 11-member Amundi investment team as part of the deal, it said. The company also acquired Amundi's stake in the Kantara Fund.
It did not disclose the total value for the transaction.
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