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Tue 6 Oct 2015 01:57 PM

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Dubai's Abraaj raises $191m for Mexico investment

Private equity firm says it will invest in mid-sized Mexican businesses that have strong growth potential

Dubai's Abraaj raises $191m for Mexico investment
A general view of Mexico City. (For illustrative purposes only)

Private equity firm Abraaj Group has raised $191 million through Mexican publicly traded certificates for investments in the country, it said on Tuesday.

Certificates of Development Capital (CKD) will be used to invest in mid-sized Mexican businesses that have strong growth potential and which show capabilities of regional and international expansion, Abraaj said in a statement.

Target sectors for the CKD include retail, fast-moving consumer goods, healthcare, education, logistics and financial services. Abraaj said the first transaction using the development capital may be closed by the end of the year.

Abraaj is a Dubai-based private equity firm which tends to focus on emerging markets. In recent transactions, Abraaj with TPG Capital purchased a majority stake in Saudi Arabian fast-food chain Kudu earlier this year.

Abraaj has made 14 investments worth $350 million in Mexico, Colombia and Peru in various sectors since 2007, it said.

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