Abraaj buys UK's Aureos Capital

Combined entity will have $7.5bn assets under management

Private equity manager Abraaj Capital on Monday said it had acquired Aureos Capital, a global private equity fund management group investing in small and medium-sized enterprises, for an undisclosed amount.

With an operational presence in over 20 countries, $1.3 billion in funds under management and over 250 deals completed in the SME segment in the last two decades, Aureos is focused on SME investing, combining local insight, extensive proprietary networks and on the ground presence.  Through

A press statement issued on Monday said the combined entity will have approximately $7.5 billion in assets under management with presence in over 30 countries across all global emerging markets, and 153 investments managed by a seasoned team of over 150 investment professionals with unmatched local expertise. 

The acquisition also brings Aureos together with Abraaj’s existing $650 million SME platform, Riyada Enterprise Development (RED), which is focused on the Mena region. The transaction will create the world’s largest SME focused private equity group targeting SME investment opportunities across the high growth markets of Asia, Africa, Middle East and Latin America. While  Aureos and RED will benefit from the synergies of being part of a common platform, and operate under the single brand ‘Aureos’, all Aureos and RED funds will continue according to their existing fund mandates and investment guidelines. The expanded Aureos platform will retain its inherent structure and team within the Abraaj Group.

Arif Naqvi, Founder and Group Chief Executive of Abraaj Capital, said: “This (acquisition will) enable us to further extend our leadership position in emerging markets. Aureos is a globally respected private equity firm with a dedicated team of investment professionals who have extensive experience and knowledge of the markets they invest in, with a geographical footprint totally complementary to Abraaj with no overlap. Both Abraaj Capital and Aureos are ‘home grown’ emerging markets private equity firms with a similar philosophy and shared values. This acquisition is an important step in our expansion into Latin America, South East Asia and Sub-Saharan Africa and a new chapter in the Abraaj Capital story”.

The acquisition, which is subject to necessary approvals from the relevant authorities and one group of fund investors, is expected to be completed in the first quarter of 2012.

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