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Article: HSBC brings private equity to the Gulf. (Banking & Finance).(HSBC Private Equity Middle East Fund)(Brief Article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- May 31, 2002
CopyrightCOPYRIGHT 2002 MEED Middle East Economic Digest. All Rights Reserved. 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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* Regional
HSBC is to be the first international financial institution to launch a private equity fund focusing on raising money in the GCC for investment in the GCC.
"We believe the time has come for such a vehicle," says David Knights, a director of HSBC's private equity business in the Middle East. "Commercial structures in the region are changing, the way of doing business is changing and the local stock markets are developing. Companies are seeking to expand and they want to raise capital to do so. At the moment there are very few sources of equity finance and the opportunities for development capital are excellent."
The HSBC Private ...