United Arab Emirates-based alternative investment manager Investcorp will acquire a 35 percent stake in Kuwaiti vehicle leasing and rental company Automak through its US$1 billion Gulf Opportunity Fund. Automak operates a fleet of over 4,500 vehicles. The investment marks Investcorp’s second in Kuwait after its 2009 investment in Gulf… Read More
Middle East and Africa-focused investment firm Blakeney Management and J. P. Morgan Asset Management, the asset management arm of JPMorgan Chase, have invested over US$20 million into the United Arab Emirates-based online shopping service Namshi. Namshi sells designer clothing, shoes and accessories from over 400 international brands to customers… Read More
The European Bank for Reconstruction and Development (EBRD) has announced its first investments in Jordan, Morocco and Tunisia. The EBRD has committed EUR20 million (approximately US$26.2 million) to the Maghreb Private Equity Fund III, a North Africa-focused private equity fund managed by Tunisia-based AfricInvest-TunInvest Group, which is targeting EUR200… Read More
InfraMed, an infrastructure investment vehicle focused on the Mediterranean region, and Cyprus-based renewable energy developer EP Global Energy (EPGE) have invested in the development of a 114 MW wind project in Jordan through a joint venture special purpose vehicle. InfraMed will control 49 percent of the venture with the… Read More
The Overseas Private Investment Corporation (OPIC) has committed US$150 million to the Riyada Enterprise Development Growth Capital Fund (RED), managed by Aureos Capital, the global small- and mid-cap investing platform of the Abraaj Group. RED has a total capitalization of US$400 million and focuses on the development of SMEs… Read More
Palestine-focused venture capital firm Sadara Ventures has led a consortium of investors in a US$1 million Series A investment in Palestinian online travel service Yamsafer. Yamsafer was launched in 2011 and provides hotel booking services as well as activity packages to travelers in the Middle East. Sadara Ventures manages… Read More
Beltone Private Equity, the private equity subsidiary of Egyptian investment firm Beltone Financial, has invested EGP10 million (approximately US$1.6 million) for a 25 percent stake in Bio Pharma Egypt, a manufacturer of private label and branded nutritional supplements. Bio Pharma Egypt plans to use the funding to… Read More
Middle Eastern private equity firm Foursan Group has invested an undisclosed amount in Jordan Dubai Islamic Bank (JDIB), a Jordanian Islamic bank listed on the Amman Stock Exchange. Founded in 2010, JDIB currently has 12 branches in three Jordanian cities. The investment was made through Foursan Capital Partners I,… Read More
U.K.-based private equity investment and advisory firm Capital Trust Group has invested US$20 million in Sakson Petroleum Services Holding, an Egyptian provider of oil and natural gas drilling services. The investment was made through EuroMena II, a US$90 million MENA-focused private equity fund. Separately, Capital Trust Group has reportedly… Read More
U.K.-based emerging markets private equity investor Actis has announced the sale of its stake in Poulina, a Tunisian food conglomerate. Actis acquired the stake in 2008 by investing in Poulina’s flotation on the Tunis Stock Exchange through The Canada Investment Fund for Africa, a private equity fund Actis co-manages… Read More
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