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FINANCIAL NEWS
Saudi Amwal Alkhaleej to launch $500m fund
18 Oct 2010
(MENAFN) Saudi private equity firm Amwal Alkhaleej has announced plans to raise up to $500 million in a new fund that will launch in 2011 and will focus mainly on its home market, its chief executive said on Monday, Reuters reported.
The money would be raised locally but also from international institutional investors, Chief Executive Ammar Alkhudairy said.
The company is currently also considering two investments, one in Egypt and one in Saudi Arabia, Alkhudairy said, without naming the target companies.
The company’s two previous funds were worth $250 million and $330 million.
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