Mustafa Abdel-Wadood, Managing Director and Member of the Board of Directors of Abraaj Capital, has been named a Young Global Leader for 2007 by the World Economic Forum. Abdel-Wadood joins an elite group of 250 global leaders under the age of 41, including 25 from the Middle East. He was nominated to this prestigious group by the Forum’s Selection Committee, which is chaired by Her Majesty Queen Rania of Jordan and is composed of the world’s top media leaders.
Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, said in a written statement: “Mustafa Abdel-Wadood’s nomination is in recognition of his record of accomplishments, his commitment to society and his potential to contribute to shaping the future of the world.”
He continued: “The Forum of Young Global Leaders is a unique global network that has the potential to tackle global challenges through knowledge sharing and leveraging horizontal networks of collaborative platforms. Together, they form a powerful international force for the common good.”
Mustafa Abdel-Wadood said: “I am profoundly honoured to be invited to join such an innovative and forward-thinking initiative. I have long admired the work of the World Economic Forum and, in particular, the initiatives of Professor Schwab. I am genuinely humbled to have been selected to join the Young Global Leaders.”
He continued: “This is not just an honour for me, of course, but also an acknowledgement of the real and lasting value that is created by Abraaj Capital. Adhering to the strictest rules of good governance and acting as a catalyst for economic growth across the Middle East, North Africa and South Asia region, Abraaj Capital grows its portfolio companies and their markets. The investments we make ultimately create jobs, develop infrastructure and improve the region as a whole. These aims are, of course, very much in line with those of both the Young Global Leaders and the World Economic Forum.”
Abdel-Wadood, whose background is in investment banking and corporate finance, joined Abraaj Capital as Managing Director and Member of the Board of Directors in June 2006. With more than 16 years of experience in the region, his primary role at the firm includes overseeing investments and acquisitions.
Previous to his appointment at Abraaj Capital, Abdel-Wadood served at EFG Hermes, where he was CEO for the UAE and, previously, Managing Director of Investment Banking, EFG Hermes Egypt. He also served for eight years, beginning at the age of 21, at the Orascom Group as Director, Business Development and Investment. As well, Abdel-Wadood is an active member of a number of boards and professional organizations.
Drawn from a pool of 4,000 candidates, the 250 Young Global Leaders for 2007 includes 125 business leaders, as well as leaders from governments, academia, media and society at large from nearly 70 countries. The current community of 416 Young Global Leaders represents 90 countries and includes Larry Page and Sergey Brin, co-founders of Google; Mikheil Saakashvili, President of Georgia; and Michelle Guthrie, Chief Executive Officer, Star Group.
About Abraaj Capital: Abraaj Capital is the premier investment firm specializing in private equity investment in the Middle East, North Africa and South Asia (MENASA) region. The management team has brought together some of the most compelling and successful transactions in the history of leveraged acquisitions across the region.
With over US$2 billion of assets currently under management, Abraaj has pioneered institutionalizing private equity practice in the region and is setting trends and benchmarks for others to follow. Funds currently being marketed (in the fund raising phase) will bring an additional US$2 billion under management.
Winner of industry awards including ‘Middle East Private Equity Firm of the Year’ from Private Equity International and the Banker Middle East Award for ‘Best Private Equities Institution’ in 2006, Abraaj is also the first pure private equity firm to be registered by DFSA to operate out of Dubai International Financial Centre (DIFC).
In 2006, Abraaj launched a US$300 million joint venture with Sabre Capital focused on private equity in India and the US$300 million Abraaj BMA Pakistan Buyout Fund. Most recently Abraaj launched the US$2 billion Infrastructure and Growth Capital Fund. In September 2006, Abraaj became the single largest shareholder in leading investment bank, EFG-Hermes, by way of a capital increase bringing Abraaj’s issued share capital to US$1 billion. For more information please visit www.abraaj.com
