Abraaj Capital, which invests in the growing Middle East, North Africa and South Asia (MENASA) region, has become one of the 50-biggest private equity groups in the world, according to a ranking by London-based Private Equity International (PEI), the leading magazine for the private equity industry.
Abraaj Capital, which has raised US$ 6.46 billion during the last five years, is the only private equity group in the global Top 50 from outside North America and Europe, and the biggest from the emerging markets. Abraaj Capital operates seven offices in the MENASA region, stretching from Istanbul to Karachi and Cairo to Riyadh. Its headquarters are in Dubai.
The Top 50, part of a PEI ranking of the world's 300-biggest private equity firms, includes names such as The Carlyle Group, Kohlberg Kravis Roberts and TPG. See http://www.pei300.com  for the list.
"Getting into the Top 50 shows that there is enormous interest and potential in the emerging markets, and the MENASA region in particular, where the opportunities for growth are remarkable," said Mustafa Abdel-Wadood, the CEO of Abraaj Capital's private equity business. "The combination of a young and expanding population, economic reform and the availability of capital make this truly one of the most exciting growth regions in the world."
The PEI 300, now in its 4th year, is the only like-for-like ranking of private equity firms by size. It ranks groups by the amount of direct-investment private equity capital raised or formed during the last five years. In the 2009 ranking, Abraaj Capital was number 54 in the world, still the biggest from the emerging markets.
Abraaj Capital's $6.46 billion includes funds raised for its third and fourth buyout Funds, its capital raising earlier this year, and almost US$ 1 billion of funds from co-investors.
The 300 firms in the 2010 ranking have raised a total $1.32 trillion during the last five years.
About Abraaj Capital: Abraaj Capital is the biggest private equity group in the Middle East, North Africa and South Asia (MENASA). Since inception in 2002, it has raised US$ 7 billion and distributed almost US$ 3 billion to its investors. With its headquarters in Dubai, the Abraaj Group operates seven offices in the region including Istanbul, Cairo and Riyadh. It has made more than 35 investments in 11 countries and achieved 20 exits. More than 65 world-class investment professionals work for Abraaj Capital. Abraaj Capital manages seven Funds; four buyout Funds; Riyada Enterprise Development Fund, a Fund dedicated to small and medium enterprises; ASAS, an income-generating, sale-and-leaseback Fund; and a real estate Fund. Funds under management at the end of 2009 were US$ 6.6 billion. Funds managed by Abraaj Capital Group have holdings in about two dozen companies in the region including Air Arabia, the region's biggest low-cost carrier; Acibadem Healthcare Group, Turkey's largest privately owned hospital operator; and Al Borg Laboratories, the Middle East's biggest privately owned medical-testing laboratory company. Abraaj Capital has won many regional and international awards, including five consecutive years as 'Middle Eastern Private Equity Firm of the Year' from London-based Private Equity International. Abraaj Capital Ltd., a member of the Abraaj Capital Group, is licensed by the Dubai Financial Services Authority.