The prospects for private equity in the Middle East look good, as a report suggests that the asset class can become a key economic driver in the region in the coming years.
Media group Sud-Ouest has bought free magazine group H3S from Edmond de Rothschild Capital Partners as the buyout firm registers its third exit to date.
The ownership of the New York-based middle-market firm has transitioned from its founders to three senior managing directors, in connection with the formation of the firm’s fifth fund.
US mid-market firm Sterling Capital has nearly doubled the size of its previous fund with a ‘quick, easy’ capital raise.
Lehman Brothers has more than doubled its fund of funds programme with the close of a $1.5 billion vehicle. It is Lehman’s second fund of funds raised since 2003, when the firm acquired Dallas-based fund of funds manager The Crossroads Group.
DIFC, the Dubai government-backed investment group which is a big investor in private equity, has launched a record-sized Islamic finance bond, with the majority of its investors coming from outside the MENA region.
The UK government is reportedly planning a sale or flotation of CDC, the emerging markets fund of funds that recently revealed bumper profits.
Avista Capital – the firm founded by former DLJ head Thompson Dean along with other senior executives from CSFB’s private equity arm – has closed its first fund on $2 billion.
EMAlternatives has secured its first investment, with a $100 million commitment from the California Public Employees’ Retirement System. The private equity fund investment specialist attempts to offer global investors exposure to markets they have not invested in before.
Actis has taken a minority stake in Nigeria-based Diamond Bank, shortly after the country’s scandal-dogged elections. But despite the governance concerns, buyout firms are optimistic about the country’s economic and political future.
The Houston, Texas-based company has closed its eleventh private equity fund on $1 billion.
PCG International has closed its first investment vehicle, a $400 million fund of funds backed solely by CalPERS.
As private equity in the MENA region shows spectacular signs of health, could the rest of the continent also experience a private equity boom? Toby Lewis reports.
San Francissco-based middle-market firm Genstar has closed its fifth fund on $1.55 billion – more than triple the amount it raised in 2004.
UK government-backed fund-of-funds CDC Group has invested in a microfinance fund, which provides banking services to emerging markets. Microfinance has grown more than seven times in the last ten years.