Swicorp, a MENA-focused investment banking and asset management firm, has acquired a 30 percent stake in Saudi Arabia-based steel products manufacturing and processing company BRC Industrial. The transaction was structured through Sadeed Investment, a Swicorp-owned investment vehicle. BRC Industrial intends to strengthen its position in the domestic reinforcement steel and… Read More
Pan-African private equity firm 8 Miles has acquired a 25.1 percent stake in Egypt-based Eagle Chemicals Group, a producer of resin and polymer products. The company, which has three factories and two tank farms located in Egypt, intends to expand its capacity, optimize and grow its product mix and increase… Read More
Emerging markets investor Standard Chartered Private Equity has acquired a 9.8 percent stake in United Arab Emirates-based offshore support vessel company Topaz Energy and Marine for US$75 million. Topaz intends to use the funds to support its long-term fleet expansion in its core operational regions and for further geographical diversification. Read More
NBK Capital’s Alternative Investments Group, a private equity and mezzanine fund manager in the Middle East and North Africa, has completed the sale of a 38 percent stake in Saudi Arabia-based consumer finance company Nayifat Instalment Company to Falcom Financial Services, a Saudi Arabia-based investment bank. The transaction was… Read More
Investment group Samena Capital has acquired more than a 30 percent stake in United Arab Emirates-listed ceramics manufacturer Ras Al Khaimah (RAK) Ceramics from the firm’s founding shareholder. The acquisition was structured through Samena Capital’s subsidiary, Samena Limestone Holdings, and was made with a consortium of international investors including… Read More
Private equity, real estate and corporate finance advisory firm The Capital Trust Group has reached a first close on its fourth Middle East and North Africa-focused private equity fund, EuroMena III, with US$100 million in capital commitments. Investors included development finance institutions European Investment Bank, DEG and International Finance… Read More
Global asset manager PineBridge Investments Middle East has held a first close on PineBridge GCC Real Estate Fund I with more than US$140 million in capital commitments. The Shari’a compliant fund, which has a final target of US$200 million, will invest in income-producing real estate assets in the Gulf… Read More
Pan-emerging markets private equity firm Actis has realized its investment in Egypt-based Commercial International Bank (CIB), selling its remaining 6.5 percent stake to Canada-based financial services holding company Fairfax Financial Holdings. Actis previously sold a 2.6 percent stake to international investors in March 2014. Financial details of the transaction… Read More
Private equity fund manager Kerogen Capital has invested US$100 million in convertible preference shares in HKN Holding, a holding company for Iraq-based oil developer HKN Energy. The investment, which was structured through Kerogen Energy Fund will be used for the initial development of an oil project on the Sarsang… Read More
Africa-focused private equity firm Development Partners International will invest US$20 million in Morocco-based private university Université Privée de Marrakech (UPM). The investment, which will be structured through African Development Partners II, will be used to support UPM’s growth plans in Morocco and Sub-Saharan Africa. UPM provides undergraduate, graduate and… Read More
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