Dubai's Abraaj eyes up to 4 exits in next 18 months

Dubai’s Abraaj eyes up to 4 exits in next 18 months

Dubai-based private equity firm Abraaj Capital plans to sell up to four of its investments in the next 18 months, a senior executive said on Monday.

October 17, 2011 1:25 by Reuters

Dubai-based private equity firm Abraaj Capital plans to sell up to four of its investments in the next 18 months, a senior executive said on Monday.

Abraaj has been trying to offload its stake in Turkish hospital group Acibadem in a deal that could be worth at least $500 million.
Matteo Stefanel, senior partner, said other exits were likely.

“We are also looking at one to three exits in the next 18 months,” Stefanel told Reuters on the sidelines of a conference, without elaborating on details.

Private equity funds in the Middle East and North Africa, under pressure to produce bigger returns for investors, have buyers, including sovereign wealth funds, looming larger on their deal radar.

Stefanel said Abraaj was looking at investing in healthcare, education and energy.

“These are investments which we think can demonstrate growth over the next few years in the region,” he said, adding Abraaj was in the final stages of raising capital for a $2 billion private equity fund. (By Dinesh Nair; Writing by Rachna Uppal; Editing by Matt Smith)