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Abraaj Capital acquiAres UK-based Aureos.

Abraaj Capital has acquired UK-based specialist fund Aureos Capital, in the latest bid by the Middle East's largest private equity firm to expand its geographical footprint. Arif Naqvi, Founder and Group Chief Executive, Abraaj Capital said, This acquisition is an important step in our expansion into Latin America, South East Asia and Sub-Saharan Africa and a new chapter in the Abraaj Capital story".

Aureos Capital is a global private equity fund management group investing in small and medium-sized enterprises, or SMEs, across Asia, Africa and Latin America.

The combined entity will have approximately $7.5 billion in assets under management a presence in over 30 countries across all global emerging markets.

Abraaj declined to disclose the value of the acquisition, but its Chief Executive Officer Mustafa Abdel Wadood told reporters that Abraaj is using its balance sheet for this deal.

The company will not raise fresh debt for the deal, he added.nBME

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Publication:Banker Middle East
Date:Mar 31, 2012
Words:167
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