Dubai, UAE, 24 July, 2012: Abraaj Capital, a leading private equity manager investing in global growth markets, today announced the completion of the acquisition of Aureos Capital (“Aureos”), a private equity fund management group investing in small and mid-cap companies (“SMC”) in Asia, Africa and Latin America.
With the consummation of this acquisition, Abraaj Capital now has approximately US$ 7.5 billion in assets under management, a presence in over 30 countries, and over 150 investments managed by a seasoned team of investment professionals with unmatched local expertise.
Announcing the completion of the transaction, Arif Naqvi, Founder and Group Chief Executive, Abraaj Capital said, “The acquisition of Aureos is a pivotal moment for Abraaj as it consolidates our position as the pre-eminent private equity fund manager in global growth markets. As a result, Abraaj is able to provide investors with a unique opportunity to invest in high growth markets through multiple platforms”.
“The acquisition is a significant step in executing the vision we set ourselves just over a decade ago of creating a dedicated global growth markets private equity firm. We share a common philosophy with Aureos, combining a track record of strong investor returns with an appreciation of the long-term social and economic benefits that our model of investing in growth markets can deliver”, Mr. Naqvi added.
Sev Vettivetpillai, Executive Chairman, Aureos said, “We are delighted to have completed this transaction with Abraaj which sets the strategic path for Aureos’ long-term growth and allows us to deliver value to our investors by bringing our portfolio of partner companies into new markets and developing mutually beneficial relationships with the Abraaj portfolio. From the outset, it has been clear that the business models, working cultures, and operational footprint of our two businesses fit together extremely well.”
While Aureos and Abraaj’s Riyada Enterprise Development (RED) Funds will benefit from the synergies of being part of a common platform, and operate under the single brand ‘Aureos’, all Aureos and RED Funds will continue according to their existing Fund mandates and investment guidelines.
Tom Speechley, Senior Partner at Abraaj Capital, has been appointed Chief Executive Officer of Aureos Capital with overall responsibility for the firm’s SMC assets under management of c. US$ 1.75 billion. Mr. Vettivetpillai assumes the position of Executive Chairman of Aureos Capital and joins the Executive Committee of Abraaj Capital. The completed transaction has been strongly supported by Aureos’ core investors, including CDC, the UK’s development finance institution.
The Abraaj Group and the Royal College of Art are pleased to welcome five new Abraaj RCA Innovation Scholars for the 2016/17 academic year. Launched in 2014, the Abraaj RCA Innovation Scholarship is the largest-ever international scholarship programme in the postgraduate creative sector, supporting five outstanding RCA applicants across Africa, Asia, Latin America, the Middle East and Turkey every year. more >
The Abraaj Group (‘Abraaj’), a leading investor operating in global growth markets, has been named Private Equity House of the Year for North Africa by Private Equity Africa Awards 2016 at the 5th Annual GP and Advisor Awards. Abraaj was also given a special recognition award for Large Cap Deal of the Year for the North Africa Hospital Holdings Group. more >
Artists from the Middle East, North Africa and South Asia region are invited to apply with a proposal for a new, original, unrealised work that will be revealed at Art Dubai 2017, which takes place March 15-18, 2017. Following an intensive jury process, one winning artist will be awarded a $100,000 prize to create a major new commission. Three shortlisted artists will also be chosen to receive a cash prize of $10,000 and showcase their work alongside the winning work in a thematic exhibition. more >
The Abraaj Group, a leading investor operating in global growth markets, today announced the acquisition, through one of its Funds, of a minority stake in Fibabanka A.S. (‘Fibabanka’ or the ‘Bank), one of the most prominent banks in Turkey with a highly experienced management team. The investment from Abraaj will be used by Fibabanka to expand its franchise and support its growth. more >
After winning the Abraaj Group Art Prize in 2011, Nadia Kaabi-Linke has gone on to have solo shows in The Mosaic Rooms (London), the Calouste Gulbenkian Foundation (Lisbon), Dallas Contemporary (United States) and, most recently, the Solomon R. Guggenheim in New York. In an interview with Art Dubai, Kaabi-Linke spoke about the exhibition, and what the last five years have been like for her since winning the Prize in 2011. more >