Gulf Capital targets Middle East's new oil in consumer boom | Reuters:
"Abu Dhabi-based Gulf Capital aims to invest $350 million over the next two years in areas such as consumer-led sectors and renewable energy, in a shift away from oil and gas and infrastructure. “The new oil in this region is the consumer. We have the youngest, fastest-growing and wealthiest consumer society, so there are huge opportunities investing in fast-growing, consumer-led sectors,” Karim El Solh told Reuters. Earlier this month, the private equity firm bought a stake in Geidea, the leading provider of electronic payment solutions in Saudi Arabia, for a deal value exceeding 1 billion riyals ($267 million)."
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