Abraaj Said to Plan Raising $500 Million Fund for Turkey Deals - Bloomberg

Abraaj Said to Plan Raising $500 Million Fund for Turkey Deals - Bloomberg:



"The Abraaj Group Ltd., a buyout firm focused on emerging markets, is raising a $500 million fund to invest in Turkey, two people with knowledge of the matter said.



Abraaj, which has about $7.5 billion in global assets under management, according to its website, plans to reach its fundraising target by the end of the year, the people said, asking not to be identified as the information isn’t public. The private-equity firm is already talking to potential acquisition targets in Turkey, one of the people said.



Private-equity investors including Carlyle Group LP, BC Partners Ltd. and KKR & Co. LP (KKR) are seeking to benefit from economic growth in Turkey that’s exceeded an annual average of five percent during Recep Tayyip Erdogan’s decade-long rule as prime minister."



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