FINANCIAL NEWS

Abraaj Group closes USD375m Africa fund

24 Aug 2015

(MENAFN) Abraaj Group, emerging market-focused private equity, announced closing its second North Africa fund, which amounted to USD375 million.

The fund will target well-managed, mid-market businesses in the core geographies of Algeria, Egypt, Morocco and Tunisia that have demonstrated robust growth.

The fund will focus on sectors which are “likely to benefit from an expanding middle class”, such as healthcare and education, and seek both majority and minority stakes in firms.

Among the backers of the fund, 63 percent of the capital came from European and North American investors, with other global finance institutions participating in the fund-raising.

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