Funds in Market Focused on the MENA Region

by Cindy Smith

  • 24 Oct 2011
  • PE

Preqin’s Funds in Market product currently holds information on 46 private equity funds seeking capital commitments with a preference for investing in the Middle East and North Africa (MENA) region. Collectively, these funds are targeting an aggregate USD 14.7 billion to invest in private equity opportunities in the region, either exclusively or as part of a more general geographical focus. Of these funds, 24 have had at least one interim close, collecting just over USD 6.8 billion to date in capital commitments.

Growth funds are the most abundant fund type currently in market, with 15 vehicles targeting USD 4.1 billion (28%) of total capital sought. The second most abundant fund type is venture capital with 11 funds currently on the road; this includes venture general, early stage, start-up and late-stage expansion funds. These vehicles are aiming to collect USD 3 billion in capital commitments, 20% of the total capital being sought. There are six infrastructure and buyout funds focused on the MENA region currently in market, targeting USD 2.9 billion and USD 2.4 billion respectfully.

The top three funds on the road focused on the MENA region, exclusively or part of a wider geographical focus, are the InfraMed Infrastructure, the Hospitality Development Fund and the KIPCO Opportunity Fund.

The InfraMed Infrastructure fund, managed by InfraMed Management, is an infrastructure fund focused on the development of energy, transportation and urban infrastructure throughout the Southern and Eastern Mediterranean region, as well as areas in North Africa. The vehicle launched in April 2010 and is targeting EUR 1 billion in capital commitments. The Hospitality Development Fund is an expansion/late-stage vehicle focused on investments within the hospitality sector in the Asia and MENA region. The fund is currently seeking USD 1 billion in capital commitments. The KIPCO Opportunity Fund is focused on the MENA region, investing across a variety of sectors including media, financial services, infrastructure and IT. The fund targets growth stage investments and is currently seeking USD 1 billion in aggregate capital commitments.

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