Abraaj Capital, the leading private equity firm in the Middle East, North Africa and South Asia, has announced the promotion of Simon Davies to Chief Operating Officer (COO) with immediate effect. Davies, who has served as Chief Financial Officer (CFO) at Abraaj since 2002, will now oversee operations at one of the region’s most established asset management companies.
A UK-trained Chartered Accountant, Simon has more than 18 years’ experience as finance director at a range of major institutions in Europe. Prior to that he spent 5 years in public practice and left the London office of Arthur Andersen in 1987. He previously worked at Publicis Groupe, one of the world’s largest communications firms, and at Flightbookers, now known as ebookers, Europe’s largest Internet travel portal. He is the holder of a degree in Business Studies, with a specialization in accountancy, from Anglia University, Cambridge.
Arif Naqvi, CEO and Executive Vice Chairman of Abraaj Capital said: "The appointment of Simon Davies to the key position of COO highlights our ongoing commitment to excellence in the field of private equity, and to the strength of our own existing management team. As CFO for the past four years, Simon has made a significant contribution to the growth of Abraaj; now, in his new role, he will focus his energies across the entire spectrum of everything we do.
I am confident that Simon will continue to hold both himself and the firm to the very highest standards.”
Commenting on his appointment, Davies said: “I look forward to devoting my energies to this new challenge at Abraaj Capital. The firm has now clearly established itself as the leading private equity player in the wider region. The opportunity to play a broader role whilst continuing to work with this extremely talented management team at Abraaj, as we drive the next phase of growth, is extremely exciting.”
About Abraaj Capital:
The first pure private equity firm licensed to operate in the Dubai International Financial Centre, Abraaj Capital is the leading asset management firm in the Middle East, North Africa and South Asia region. In 2006, Abraaj Capital launched a series of funds including Sabre Abraaj India Private Equity Fund, Infrastructure & Growth Capital Fund, and the Abraaj BMA Pakistan Buyout Fund. By the end of 2006, Abraaj Capital expects to have US$4 billion of assets under management.
The firm’s primary expertise is in private equity buyouts, strategic minority block positions in public enterprises and real estate investments within the region. In recognition of its operating excellence and regional expertise, Abraaj received the ‘Middle Eastern Private Equity Firm of the Year’ award from Private Equity International in March 2006. In addition, it has received the ‘Best Private Equity House’ award from the Banker Middle East in May 2006.
The executive directors of the firm have a long history of working together and are associated with some of the landmark private equity transactions in the region such as the acquisition and subsequent exit from Aramex, - the first and largest leveraged transaction in the region; Inchcape Middle East and privatisation of Jordan Aircraft Maintenance Company (JorAMCo) by the Government of Jordan. For more information please visit www.abraaj.com
