Gulf Capital seeks to invest $500m in Saudi, UAE

by Nicolas Parasie Monday, 12 October 2009

Private equity firm Gulf Capital is looking to invest $500m in Saudi Arabia, the UAE and Egypt, the company's chief executive said on Monday.

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The opportunities include a deal in the healthcare sector that would be announced soon, Chief Executive Karim el-Solh told Reuters on the sidelines of a private equity conference.
He declined to give more details, but said in general the fund targets 10 deals of about $50m per deal.

As elsewhere in the world, private equity activity in the Middle East in 2009 has dropped significantly, Solh said. As a result, the sector sits on more than $11bn and the number of deals is set to increase again.

"With so much dry powder left, regional private equity firms are under considerable pressure to close transactions," he said, adding that the crisis will eventually result in a shake-out of the industry. (Reuters)



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