Currently, 89 private equity firms are headquartered in the Middle East, according to Preqin’s Fund Manager Profiles data. Collectively, these firms have raised approximately $16.5bn over the past 10 years, and have an estimated $3.8bn in dry powder available for investment. Forty-eight percent of these firms are based in the United Arab Emirates, accounting for roughly 50% of the capital raised over the past 10 years by Middle East-based fund managers. Twelve of the firms are located in Bahrain, and 10 fund managers are based in both Kuwait and Saudi Arabia.
The top five Middle East-based fund managers by total capital raised over the past 10 years are Abraaj Capital, Global Investment House, Swicorp, Gulf Capital, and HSBC Private Equity Middle East. These five firms alone account for over 54% of the total capital raised over the period by these 89 Middle East-based fund managers. Collectively, the five firms have approximately $2.2bn in estimated dry powder available for investment, and they all have a diversified industry focus. All five of these firms make investments across the MENA region, and Abraaj Capital and Global Investment House additionally make investments across Asia.
Abraaj Capital is located in Dubai, and applies balanced, growth, buyout, and special situations strategies to its investments across MENA and Asia. The firm has raised approximately $3.3bn over the past 10 years, and has an estimated $1.4bn available for investment. Abraaj Capital has a diversified industry focus, but pays particular attention to the healthcare and pharmaceuticals, education, oil and gas, financial services, fast moving consumer goods, and transportation and logistics sectors.
Also investing across MENA and Asia, Global Investment House makes balanced, buyout, and pre-IPO investments, and is headquartered in Kuwait. The firm has raised approximately $2.9bn over the past 10 years, and has approximately $223mn in available dry powder. Global Investment House also has additional offices located across the MENA region, including Saudi Arabia, UAE and Egypt.