There are currently 105 private equity firms headquartered in the Middle East and North Africa (MENA) region. These fund managers have raised a combined $18bn in the last 10 years and have an estimated $3bn in aggregate dry powder. The most common country for these MENA-based firms is United Arab Emirates with 42 fund managers located in the country, followed by 11 firms situated in Kuwait, 10 firms located in Egypt, nine firms in Bahrain and eight firms in Saudi Arabia. With regards to investment strategies, 44 GPs include buyout in their overall investment strategy and 54 GPs include venture capital in their investment strategy. The top five MENA-based fund managers by aggregate capital raised over the last 10 years are Global Investment House, Citadel Capital, Swicorp, EFG-Hermes Private Equity and Gulf Capital.
Global Investment House is a Kuwait-based investment firm providing investment opportunities in the Arabian Gulf Peninsula to investors worldwide. The firm prefers a buyout investment strategy and predominantly targets the MENA region, investing particularly in the GCC member countries. The firm has raised $2.9bn over the last decade and has an estimated $151mn in available dry powder.
Citadel Capital is a Cairo-based private equity firm that makes control investments in the Middle East and Africa, with particular emphasis on opportunities in North and East Africa. Citadel has a diversified industry focus that includes energy, agrifoods, cement and transportation. Over the past 10 years the firm has raised $2.4bn in aggregate capital and has approximately $210mn in dry powder.
Swicorp is a financial services and private equity group based in Saudi Arabia that provides intellectual and financial capital to the MENA region. Having initiated its private equity activities in 2004, the firm follows a growth and buyout strategy, focusing on the consumer goods, retail, energy, oil & gas, petrochemicals, and infrastructure sectors in the Middle East and North Africa. Swicorp has raised $1.4bn over the last decade and has an estimated $81mn in dry powder.