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Mideast equity funds eye robust returns

By Agencies


Private equity firms in the Middle East will probably make returns above the global average as governments open more of their economies to private investment and population growth boosts demand, Dubai's Abraaj Capital said.

"There is no shortage of investment opportunities in the region," Abraaj Capital Chief Executive Officer Arif Naqvi said at a conference on Dubai on Tuesday. "The equity funds' returns will be significantly in excess of the global average."

Saudi Arabia, the world's largest oil exporter, "is one of the most exciting in terms of reform of the government mindset," Naqvi said. "Every statistic has pointed to very strong growth." (Reuters)