Abraaj gets out of Hot Pot

Dubai: The Abraaj Group, a global private equity firm based in Dubai, on Wednesday said it exited an investment in the Bangkok-based restaurant chain Hot Pot through an initial public offering on the Thai stock exchange.

The exit follows a number of other recent sales in Abraaj’s South East Asia Fund, which it inherited through the acquisition earlier this year of emerging markets’ private equity group Aureos Capital. The fund sold stakes earlier this year in Yupi, an Indonesian confectionary company, and Cirtek Electronics, a semiconductor firm in the Philippines.

Abraaj invested in Hot Pot in 2006, it said. The chain has 126 restaurants and more than 3,000 employees.