Arab Today, arab today abraaj closes aureos deal
Last Updated : GMT 01:58:56
Arab Today, arab today
Arab Today, arab today

Abraaj closes Aureos deal

Arab Today, arab today

Arab Today, arab today Abraaj closes Aureos deal

Dubai - Arabstoday

Abraaj Capital, the Middle East’s largest private equity firm, closed its acquisition of UK-based Aureos Capital, it said on Tuesday, and appointed a new chief executive for the specialist fund manager. Abraaj struck a deal to buy the emerging market fund manager in February, creating an entity with approximately $7.5 billion in assets under management. Financial terms were not disclosed. 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,” 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. Gulf Today

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