GrowthGate, the GCC-based specialist buyout firm, yesterday said it has completed a $100 million (Dh367.3m) private placement of shares as part of its capital raising programme for the current year.

The funds were contributed by existing shareholders and will be allocated to a series of earmarked investments in portfolio companies that are principally located in the GCC and other select markets of in the Mena region, the firm said.

GrowthGate was established in 2007, with an authorised capital of $500m. The results of fiscal 2007, and this more recent capital injection, will bring shareholders' equity to $250m by the year-end, it said.

GrowthGate is a private investment firm that follows a 'buy-and-build' model by partnering with management to build emerging growth businesses into enduring organisations. As GrowthGate is structured as a holding company and not a fund, it has the flexibility to take a long-term approach and decide on follow-up investments and on exits without the pressure of 'fund pre-determined' deadlines.

GrowthGate's portfolio companies that are located in the GCC include: Able Logistics Group (logistics and transport), Gama Aviation Holding (private jet business) and Roots Group (wholesaling and manufacturing of building materials). GrowthGate is managed by Keystone Equity Partners.