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Article: Citadel Capital sets up investment funds.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- October 29, 2009
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CAIRO: Cairo-based Citadel Capital, a private equity fund that manages $8.3 billion, has set up at least two new funds for investment in the Middle East and East Africa, saying the appetite for such funds is accelerating.
Chairman Ahmed Heikal told a Reuters Middle East Investment Summit that Citadel has been seeking finance from regional sources and development organizations after Western commercial banks, the region's traditional financers, largely withdrew from the area.
Citadel has invested $60 million of its own capital into the funds, its first in two years, out of a total $200 million it plans to invest in the coming year.
Eventually it ...