Private equity firm says it will invest in mid-sized Mexican businesses that have strong growth potential
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.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.