Gulf Capital, a private equity firm, has announced the final closing of its GC Equity Partners II fund, which was heavily oversubscribed with final commitments totalling approximately Dh2 billion.
The fund derived majority of its investors from international markets, including the USA, Europe and Asia. The composition of the investor base includes some of the largest and most prestigious global and regional sovereign wealth funds, pension funds, endowments, banks and insurance companies, the firm said in a statement yesterday.
Dr Karim El Solh, Chief Executive Officer of Gulf Capital, said the company will continue acquiring sizeable and controlling stakes in highly profitable market leading businesses and accelerating their growth ahead of an eventual exit.
Investments worth Dh588 million have been closed by GC Equity Partners II and include Ma'arif for Education and Training, Technoscan and Gulf Marine Services. The combined equity participation in all three transactions account for 30 per cent of the fund's available capital. Other target industries for the fund include power and water, food, logistics, aviation and other services.
Muhannad Qubbaj added: "Our focus remains on demographically-driven sectors and those that will benefit from strong governmental spending in the region. Like its predecessor funds, GC Equity Partners II will be invested across a broad range of defensive sectors and geographical locations within the Middle East."
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