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peHUB First Read

To start off your week, First Read brings you the best month for deals so far in 2013, news that Clessidra is slashing its latest fund and seven top tech stories from the weekend.

Network International Acquires TimesofMoney Majority Stake

Payment solution provider Network International has acquired a majority stake in TimesofMoney, an Indian online remittance and digital payments service provider. London-based specialist advisory firm FT Advisors Limited, part of the Anthemis Group, advised Network International which is backed by private equity firm Abraaj Capital.

OPIC and Abraaj Capital Commit to MENA SME Fund

The Overseas Private Investment Corporation, the U.S. Government’s development finance institution, and Abraaj Capital, a private equity group investing in growth markets worldwide, have signed a $150 million commitment to the Riyada Enterprise Development Growth Capital Fund. The vehicle will invest in SMEs in the MENA region, including Egypt. With a capitalization of $400 million, […]

Mediamorph Adds Four New Board Members

Mediamorph, a global provider of cloud-based software and managed services has added four new members to its board of directors. They are: Robert Toms, managing director at Smedvig Capital; Stewart Till, CBE, CEO of Sonar Entertainment; Wahid Hamid, senior partner and head of portfolio operations and management group at Abraaj Capital; and Michael Huseby, chief […]

Abraaj Capital Eyes India

Middle Eastern private equity firm Abraaj Capital is set to unveil more deal-making and is planning a major push into India, writes Reuters. Dubai-based Abraaj was founded a decade ago and has raised $7 billion since its inception, according to Reuters. Reuters – Abraaj Capital, the Middle East’s largest private equity firm, is set to […]

Abraaj Capital Backs Moroccan Insurance Co

Abraaj Capital is investing about $125 million in Moroccan insurance holding company, Saham Finances, writes Reuters. The business has majority stakes in three subsidiaries: Casablanca-listed CNIA Saada, sub-Saharan insurance firm Colina and Isaaf, a firm which focuses on the assistance services market in Morocco, Abraaj said in a statement. Reuters – Abraaj Capital is investing […]

Abraaj Capital to Acquire Aureos Capital

Middle Eastern private equity firm Abraaj Capital is to acquire UK-based specialist fund Aureos Capital, writes Reuters. Aureos Capital has about $1.3 billion assets under management and provides expansion and buyout capital to small and medium-sized businesses across Asia, Africa and Latin America. Reuters – Abraaj Capital said on Monday it will acquire specialist fund […]

Abraaj Capital Appoints Citi for Fund Admin

Abraaj Capital has appointed Citigroup to provide fund administration services for Riyada Enterprise Development, the US$650 million small and medium sized enterprise fund of the Abraaj Capital group. Riyada Enterprise Development was established in 2009 to capitalize on investment opportunities in small and medium sized businesses in the Middle East and North Africa. PRESS RELEASE […]

Fortis Healthcare Pulls Away from Acibadem Talks

Fortis Healthcare International has pulled out of talks to buy a controlling stake in Turkish hospital group Acibadem, Reuters reported Wednesday. The stake is being sold by Almond Holding, a vehicle owned jointly by Dubai-based private equity firm Abraaj Capital and Turkey’s Aydinlar family. Acibadem has a market value of about $1.2 billion.

Abraaj Capital Buys PE Operations of Amundi

Abraaj Capital, based in Dubai, said that is has acquired the North African private equity operations of French asset manager Amundi, Reuters reported Sunday. Abraaj has $6.2 billion under management, and will absorb Amundi’s 11-member investment team as part of the deal. Financial terms were not released.

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