Abu Dhabi's Gulf Capital to launch $550m equity fund

Focus will be the Gulf, mainly UAE and Saudi, as well as Egypt and Jordan

Abu Dhabi private equity firm Gulf Capital plans to launch a $550 million fund to invest in companies across the Middle East and North Africa, its chief executive said on Monday.

Gulf Capital, which manages assets worth over $2.5 billion, will seed the GCC Equity Partner III Fund with $100 million and hopes to raise the full amount of the fund by the end of 2014, Karim El Solh said.

The company has not yet invested about 30 percent of an earlier $533 million fund and expects to close two more deals this year, he told reporters.

"We're very focused on the Gulf, mainly UAE and Saudi, and sometimes spillover to Egypt and Jordan."

Gulf Capital said in September that it had hired Rothschild to advise it on a share listing for its biggest asset, oil and gas services firm Gulf Marine Services, on an overseas stock exchange in early 2014.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Is Africa's investment dream still on track?

Is Africa's investment dream still on track?

It was the new bright spot for global investors, but widespread...

Deal-making to drive 2017 Middle Eastern banking fee bonanza

Deal-making to drive 2017 Middle Eastern banking fee bonanza

Fees from the Middle East reached $581m during the first nine...

Accounting meets religion in challenge for Islamic banks

Accounting meets religion in challenge for Islamic banks

Reconciling accounting standards and religious principles is...

Most Discussed
  • 17
    Countdown to VAT: are Gulf businesses ready?

    I feel with VAT in place from 2018, retailers, SMEs will figure out ways of Tax-evasion as it happens in most of the developing economies unless authorities... more

    Tuesday, 14 February 2017 1:10 PM - Diya Pardasani
  • 15
    Dubai likely to lose 'shopper's paradise' status: S&P

    It's no longer a shoppers paradise. Maybe for the ignorant few but with the availability of the internet to compare prices worldwide one doesn't need to... more

    Monday, 20 February 2017 1:25 PM - Syed
  • 10
    Dubai real estate: which way will it go?

    well the mortgage rates are going to go up even more as the US will increase rates so the central bank here will also have to increase proportionately... more

    Wednesday, 15 February 2017 1:28 PM - Bill
sponsoredTracking