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Article: Arab world: capitalizes on private equity.(BUSINESS AND FINANCE)(Cover story)
- Article from:
- The Middle East
- Article date:
- February 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IN THE GCC and other parts of the Middle East, private equity is expanding massively, as governments, corporations and individuals seek to maximise the returns on their growing wealth. Family-owned firms in the region are expected to benefit as well, not least because some of the largest private equity firms in the US and Europe, including President George Bush's favourite, the Carlyle Group, are now seeking to establish a significant presence in the Arab world.
Private equity firms based in the six countries of the Gulf Cooperation Council (GCC)--Saudi Arabia, Kuwait, Qatar, Bahrain, the United Arab Emirates and Oman--alone are setting up 43 separate funds to ...