Banking, Funds Management, Islamic Finance, Middle East, Private equity, Real Estate, Sovereign Wealth Funds - Tuesday, July 1, 2008 11:50 - 0 Comments

Middle East emerges as a private equity centre

Asiamoney, July 2008

The Middle East has emerged as the fourth world centre for private equity after North America, Europe and Asia.

The numbers are indisputable. A study by the Gulf Venture Capital Association, KPMG and research group Zawya put the total funds raised in the region in the three years to the end of 2007 at US$13.4 billion, from 76 separate funds. Everything is climbing: the $6 billion raised in 2007 is more than double the $2.4 billion of 2005; the number of funds closed in 2007 – 22 – is up by a similar degree, from 12 in 2005; and the average fund size is climbing too, from US$204 million in 2005 to US$274 million in 2007. Last year saw the first billion dollar private equity deal in the region (Abraaj Capital’s $1.41 billion purchase of Egyptian Fertilizers) and the raising of the first billion dollar fund (Abraaj again, with its Infrastructure and Growth Capital Fund). Continue…

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