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, and the Royal College of Art, the world’s most influential university of design and art, launched the Abraaj RCA Innovation Scholarship programme in London. Each year for the next five years, Abraaj will support five outstanding individuals from across Africa, Asia, Latin America, the Middle East, Turkey and Central Asia as each pursues his or her creative aspirations at the RCA. The ground-breaking initiative will foster opportunity, empower potential, and provide contemporary practitioners with the resources they need to develop their talent. more >
The Abraaj Group Art Prize announced today the winning artist for its seventh edition, the Guest Curator and the three shortlisted artists participating in the accompanying exhibition at Art Dubai 2015 (March 18-21, 2015). Building further on the format of recent years, The Abraaj Group Art Prize now awards the $100,000 commission to one artist. more >
The Abraaj Group Ltd., a buyout firm focused on emerging markets, is targeting more acquisitions in North Africa to benefit from rising demand for investments in health care, consumer products and education. Abraaj, which has about $7.5 billion in global assets under management, announced six deals in the region in the first half of 2014 and plans four more investments this year with an average value of $50 million to $100 million, Ahmed Badreldin, partner and head of Middle East and North Africa at the firm, said in an interview. more >
The Abraaj Group announced the successful exit of its investment in Iasacorp International S.A. (“Iasacorp”), a prominent Peru-based retailer specializing in women’s accessories. Iasacorp operates store brands such as Do It!, Do It! Kids and Glitter. more >
No other private equity house can match Abraaj’s experience of investing in healthcare services in the developing world. A lead investor in Turkish hospital group Acibadem, which was then sold to IHH, the international hospital chain, Abraaj has rolled out a lab buy and build in Egypt, Africa and the Middle East, has recently started a similar play building a Pan-North African chain of hospitals and has also invested in half a dozen hospital and outpatient clinics across sub-Saharan Africa. more >