Abraaj acquires Aureos Capital
The combined company will manage $7.5 billion in assets across 30 emerging countries
Dubai: Abraaj Capital announced on Monday that it has fully acquired Aureos Capital (Aureos), a global private equity fund management group investing in small and medium-sized enterprises (SMEs) across Asia, Africa and Latin America.
Abraaj declined to give financial details for the acquisition but said the combined company will manage $7.5 billion in assets across 30 emerging countries.
With an operational presence in over 20 countries, $ 1.3 billion in funds under management and over 250 deals completed in the SME segment in the last two decades, Aureos has built a reputation as the leading emerging markets private equity manager focused on SME investing.
"We are putting together two complementary platforms. In the case of Aureos, they have been investing in SMEs for over 10 years," said Mustafa Abdel-Wadood, Abraaj's chief executive officer.
The deal is expected to close this quarter. Post acquisition Aureos and Riyada Enterprise Development, an Abraaj owned fund dedicated to small and medium enterprises in the Middle East will be merged.
