WEF Managing Director joins Abraaj Capital

Published May 29th, 2005 - 06:59 GMT

Abraaj Capital today announced that Frederic Sicre has joined the company as an Executive Director. Sicre joins Abraaj from the World Economic Forum (WEF), where he has worked for 16 years and the last six as its managing director, playing a central role in building the Forum’s regional activities and global reputation.

Arif Naqvi, CEO and Executive Vice Chairman of Abraaj, said that Sicre’s appointment to Abraaj comes at a time when the private equity industry in general and the firm in particular is on a rapid growth path.

“We welcome Frederic Sicre on board at Abraaj. In his role as the Managing Director at the WEF he played a crucial and successful role of bringing together leaders from across the world to talk on pressing issues facing the prosperity of the global community. His focus in the last few years on the Middle East led directly to the initiative of forming the Arab Business Council, which is fast becoming a crucial think tank for business leaders across the region. Abraaj will greatly benefit from Fred’s expertise and understanding of our region as we move towards expanding our reach and investments across the Middle East and North Africa (MENA) and the Indian subcontinent,” Naqvi said.

Sicre said that his decision to join Abraaj Capital was influenced by the growing role of private equity in shaping the future of business enterprises and economies of the region. He said Abraaj had been a pioneer in institutionalising private equity investments, and added that he felt he would be able to contribute more directly to the region’s growth by joining the leading regional private equity player.

“I am delighted to join Abraaj and to be in Dubai, which will be my home from August. My role at Abraaj is an extension of applying what I was talking about at the Forum. I will be now working full-time within this exciting region, and look forward to contributing directly to its growth and prosperity through Abraaj’s investment activities,” he added.

About Abraaj Capital Abraaj Capital is a leading asset management firm based in Dubai. The firm’s primary expertise is in private equity buyouts, strategic minority block positions in public enterprises and real estate investments within the region. 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 of Aramex, Inchcape Middle East-the first and largest leveraged buyout transaction in the region and Jordan Aircraft Maintenance Company-JorAMCo, a privatisation by the Government of Jordan. For more information, visit www.abraaj.com


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