The Middle East’s private equity funds, which have long lagged behind their global peers, have built up at least $5bn in capital ready to invest in new opportunities, industry leaders said this week. They will also increase endeavours to make new investments this year.
The so-called “dry powder” has been building for years, as private equity funds – which occupy a smaller segment of the financial sector than similar funds in the developed world – raised cash faster than they spent it. But many in the business say a global trend of banks selling assets to raise capital, combined with new economic opportunities in the region, could combine to spur a rush of investment by the funds.
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