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Abu Dhabi’s Gulf Capital sees to close 4 PE deals in Q1 2012

Abu Dhabi-based private equity firm Gulf Capital is in the final stages of acquiring majority stakes in four regional firms, with closing targeted for the first quarter of next year, the company's chief executive said on Monday.


November 21, 2011 1:18 by

“We’re acquiring a 75 percent stake in a regional power company, 75 percent in a business services company, 51 percent stake in a regional healthcare firm and 100 percent of a regional oil and gas company,” Karim el Solh said on the sidelines of a private equity conference.

He added that the company aimed to close the deals during the first quarter of 2012, but declined to provide any further details.

Gulf Capital, which currently has around $1 billion of assets under management, is planning to exit two investments in 2012, including its stake in Gulf Marine Services (GMS) — a regional jack-up and support barge company — el Solh said in September.

El Solh had told reporters in June that Gulf Capital’s Private Equity Partners Fund II will be 50 per cent invested by end-2011.

The fund closed last year with $533 million in commitments. (By Mirna Sleiman; Writing by David French; Editing by Rachna Uppal)


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