Abraaj Capital buys Amundis private equity business in North Africa.

By bne IntelliNews August 29, 2011
Dubai-based private equity and alternative asset management firm Abraaj Capital has bought the North African private equity platform of France's Amundi, the company said in a statement. As part of the deal, Abraaj will take over the management of USD 161mn SGAM Al Kantara Fund and Amundi's stake in the Kantara Fund. It will also acquire Amundis offices in Morocco, Tunisia and Algeria. The acquisition is in line with Abraaj efforts to strengthen its presence in the MENA region. No financial details of the deal were disclosed. Since its formation in 2002, Abraaj has raised over USD 7bn and distributed around USD 3bn to investors. Its assets under management at the end of 2010 stood at USD 6.2bn. Asset manager Amundi is jointly owned by Societe Generale and Credit Agricole.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Bahrain Middle East Bank fully repays USD 13mn debt.

Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more

National Bank of Abu Dhabi launches USD 17mn Uridashi bond, MENAs first ever.

National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more

GCC economies resilient to MENA turmoil but constrains persist S&P.

The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    5 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    5 days ago
  5. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    6 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    19 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    28 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss