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Private Equity Managers Headquartered in the MENA Region - June 2012

by Louise Maddy

  • 27 Jun 2012
  • PE

There are 108 private equity firms headquartered in the MENA region. The most popular country for these MENA-based firms is the United Arab Emirates, with 40 fund managers located in the country, followed by 12 firms situated in Bahrain. Eleven fund managers are located in Egypt, while 10 firms are based in both Kuwait and Saudi Arabia. Collectively, these GPs have raised $21.1bn in the last 10 years and have an estimated $4.2bn available in aggregate dry powder.

The top five MENA-based fund managers by aggregate capital raised over the last decade are Abraaj Capital, Global Investment House, Citadel Capital, Swicorp and EFG-Hermes Private Equity.

Abraaj Capital is a private equity group investing in the Middle East, North Africa and South Asia (MENASA). The firm has headquarters in Dubai, and operates offices in regions including Istanbul, Cairo and Riyadh. The firm acquires controlling, or significant interests with board representation, in a broad range of companies. The firm has raised nearly $2.9bn in the last decade and currently has an estimated $890mn in dry powder.

Global Investment House, meanwhile, is a Kuwait-based investment company licensed by the Central Bank of Kuwait. The firm promotes investment opportunities in the Arabian Gulf Peninsula to international investors. It raises both balanced and buyout vehicles, and invests predominantly in the MENA region, with a particular focus on GCC member countries. The firm has raised $2.8bn over the last decade with $231mn estimated in available dry powder.

Citadel Capital is a private equity firm based in Cairo. The firm makes control private equity investments in the Middle East and Africa, with a particular emphasis on opportunities in North and East Africa. The firm is listed on the Egyptian Exchange (EGX) and trades under the stock symbol CCAP.CA. The firm has completed a wide range of transaction types including distressed investments, industry roll-ups, growth capital investments, and leveraged investments. Some of the industries the firm has invested in are energy, mining, agrifoods, cement, transportation and retail, but it has an overall diversified industry focus. Over the past 10 years the firm has raised $2.4bn in aggregate capital and has approximately $273mn in dry powder.

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