The Abu Dhabi Investment Company (ADIC), the first investment company in the United Arab Emirates and one of the leading financial services firms in the area, has hired a new head of private equity to lead the charge for buy-outs in the Middle East and North Africa.
Because of the credit crunch, the value of buy-outs globally sank last year. But Nazem Fawwaz Al Kudsi, CEO of ADIC, says potential deals are starting to emerge in the region’s deepest markets, the U.A.E., Saudi Arabia, Turkey and Egypt, according to a report by Zawya, a Middle Eastern business information newswire.
“The family-run firms that dominate the region are hungry for capital and expertise, to help them make their operations more efficient, and to expand their businesses across the region,” Al Kudsi said.
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