Abraaj buys Amundi’s N.African PE business

DUBAI — Abraaj Capital on Sunday annnounced that it acquired the North African private equity operations of French asset manager Amundi to expand its presence in the fast-growing region.

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Published: Mon 29 Aug 2011, 10:19 PM

Last updated: Tue 7 Apr 2015, 3:49 AM

Under the terms of the agreement, Abraaj Capital has taken over management of the $161 million SGAM Al Kantara Fund as well as absorbing the 11-member Amundi investment team, thereby significantly enhancing its presence in North Africa.

Abraaj Capital, the leading private equity and alternative asset management group in the Middle East, North Africa and South Asia (MENASA), also acquires Amundi’s stake in the Kantara Fund.

With five existing investments in Morocco and Tunisia and pursuing an active pipeline of investment opportunities across North Africa, the Kantara Fund is a buyout and expansion capital fund, primarily focused on small and mid-cap investment opportunities in North Africa.

“We are firm believers in using local knowledge and top tier expertise in all the markets in which we invest to ensure that our deal flow is as good as it possibly can be. We are fortunate to have taken on such an experienced and deep team of investment professionals in one transaction,” said Mustafa Abdel-Wadood, Chief Executive Officer of Abraaj Capital Limited.

The acquisition includes fully staffed offices in Morocco and Tunisia thereby expanding Abraaj Capital’s presence in the region. A further office is in the process of being established in Algeria. This on the ground presence represents an unrivalled footprint across the MENASA region and enables Abraaj Capital to source the best proprietary deal flow.

The acquisition complements the mandate of Riyada Enterprise Development (RED), the small and medium enterprise (SME) investment platform of the Abraaj group, that is focused on investing in SMEs in the broader Middle East and North Africa region (MENA), including Turkey and Pakistan. Through the RED investment platform, Abraaj Capital intends to invest more than $500 million of capital into small and medium enterprises right across the MENA region.


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