Dubai's TVM Capital Widens Fund Focus After Abraaj Collapse - Bloomberg:
Dubai-based private equity firm TVM Capital Healthcare hopes to close a $250 million global fund next year after the collapse of Abraaj, one of the Middle East’s biggest buyout firms, hurt investor confidence in the region.
Fund-raising, which started last December, has been delayed by about a year and the fund will target companies in developed markets seeking to grow in the Middle East North Africa, Turkey, South East Asia and India, as well as investing directly in emerging market firms, Chairman and Chief Executive Officer Helmut Schuehsler said in an interview.
“We had good fundraising in the first quarter but then things pretty much came to a stand still and it was difficult to have conversations with investors,” he said. “Obviously the problem in Abraaj hasn’t done the industry at large any service, but things are beginning to get better now.”
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