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, a leading investor operating in global growth markets, has today announced that it has decided that it will not continue to participate in the competitive bidding process for the acquisition of up to 100% of the share capital of the Egyptian Company For Foods BiscoMisr ( “BiscoMisr”), a leading baked goods and confectionery manufacturer. more >
The Abraaj Group, a leading investor operating in global growth markets, has today applied to the Egyptian Financial Supervisory Authority (“EFSA”) requesting EFSA’s approval, in accordance with Chapter 12 of the Executive Regulations of the Capital Market Law no. 95/1992, to amend the tender offer Abraaj has made, through one of its Funds, for the acquisition of up to 100% of the share capital of the Egyptian Company For Foods BiscoMisr, a leading baked goods and confectionery manufacturer, subject to a minimum of 51% of the share capital of the Company. more >
Investors are pulling out of emerging markets, and plunging commodities prices are hitting growth in much of the developing world. But largely unnoticed by many U.S. investors, a group of medium-to-large cities in those markets is emerging as possible future powerhouses. more >
The Abraaj Group, a leading investor operating in global growth markets, today announced the successful full exit of its investment, through one of its Funds, in Moulin d’Or, a leading producer of baked goods in Tunisia. Founded in 1990, Moulin d’Or has grown to become a leader in its industry with more than 200 million cakes being consumed in the past year, contributing to its 47 per cent market share in the cake segment in Tunisia. more >
The Abraaj Group, a leading investor operating in global growth markets, has today announced that its tender offer for the acquisition of the share capital of the Egyptian Company For Foods BiscoMisr (“BiscoMisr”), via one of its Funds, is designed to expand the Group's operations and diversify its activities in the Egyptian market. more >