Consortium launches Jordan's first private equity fund
The Deutsche Bank, Atlas Investment Group and Foursan Group will launch the Jordan Fund, a private equity fund created to make investments in Jordanian companies, stated a press release.
The Jordan Fund will be the Kingdom’s first private equity fund. It will be a $50 million closed end fund targeting mid- to late-stage private Jordanian companies. The Fund will focus especially on firms established to take advantage of the free trade agreement (FTA) with the US and other free trade initiatives, consolidation and turnaround plays in established Jordanian companies and joint ventures or direct investments by foreign investors in Jordan.
The Fund will be seeded by the government of Jordan, which has made an initial commitment of $20 million, and will also raise capital from institutions and individuals in the Middle East as well as outside the region.
The Fund has been structured by a consortium including Deutsche Bank, Jordan’s Atlas Investment Group and the Foursan Group, an Amman-based private equity and venture capital firm.
The members of the consortium will be represented on the Fund’s investment committee. Atlas and Foursan will act as investment managers of the Fund, and Deutsche Bank will act as the Fund’s international adviser. — (menareport.com)
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