Abraaj Capital becomes first pure Private Equity company to receive licence to operate in DIFCPress Release22 Mar 2006 10:54 am
Abraaj Capital today became the first pure private equity firm to be registered by DFSA to operate out of Dubai International Financial Centre (DIFC).
Dr. Omar Bin Sulaiman, Director General of the DIFC Authority, welcoming the organisation commented: “It is with great pleasure that we welcome Abraaj Capital. The track record of this company is second to none. It has been a pioneer in its field, establishing the private equity industry in the UAE and the region, and we are delighted that Abraaj has chosen to come to DIFC as the next stage of its development. Abraaj Capital is a great regional success story, and we welcome them to the DIFC.”
CEO and Vice Chairman of Abraaj Arif Naqvi said:
“It is a tremendous achievement to be the first pure private equity firm to be registered by the DFSA. This is doubly significant when you consider that we have never been a regulated business, and it is testament to the high standards of corporate governance that we adhere to that the DFSA has given us this licence.”
Abraaj Capital will use its status as a DIFC company to further expand its business and activities in the Middle East, North Africa, and South Asia. Abraaj currently has $1 billion in assets under management, and was recently named “Best Private Equity Company in the Middle East” by Private Equity International magazine.
It has investments throughout the Middle East and recently announced a landmark joint venture with Sabre Capital in India to expand into that market.