Global alternative asset manager The Carlyle Group has promoted Can Deldag and Firas Nasir to co-heads of Carlyle MENA Partners. Deldag, based in Istanbul, is head of Carlyle’s investment team in Turkey and Nasir, based in Dubai is head of Carlyle’s investment team in the GCC. Deldag and Nasir, who succeed Walid Musallam, begin their duties immediately.
Global alternative asset manager The Carlyle Group announced today that it has promoted Can Deldağ and Firas Nasir to co-heads of Carlyle MENA Partners. Mr. Deldağ, based in Istanbul, is head of Carlyle’s investment team in Turkey and Mr. Nasir, based in Dubai is head of Carlyle’s investment team in the GCC. Messrs. Deldağ and Nasir, who succeed Walid Musallam, begin their duties immediately.
The change in leadership underscores the firm’s current strategy for the MENA region, which focuses on key markets Turkey and the GCC. Carlyle’s MENA fund was established in 2009 and has made five investments since inception – three in Turkey led by Mr. Deldağ and two in the GCC led by Mr. Nasir.
David M. Rubenstein, Carlyle Managing Director and Co-Founder, said: “We continue to have significant confidence in the MENA region’s investment potential and are delighted that Can and Firas will co-lead Carlyle MENA Partners. They have successfully led the firm’s investment activities in Turkey and the GCC and will serve our investors well as we focus on these key markets.”
Mr. Deldağ said: “We are excited about our latest investment in Turkey, Bahcesehir Koleji, and extremely pleased with the performance of our portfolio, including Medical Park, which has grown from 13 to 19 hospitals under our ownership. I look forward to partnering with Firas to lead the team and emphasize our commitment to the MENA region, where we continue to see excellent investment opportunity.”
Mr. Nasir said: “Carlyle has a differentiated offering in the MENA region as it brings the international resources of a globally diversified firm to regional companies. We will continue to invest in businesses where we can leverage the Carlyle global platform to help our partners create value.”
Can Deldağ joined Carlyle in 2007 to lead the firm’s investment activities in Turkey. Prior to joining Carlyle, he was a senior partner and member of the management board at Ernst and Young where he was head of transaction advisory services for Turkey and head of M&A services for South East Europe. Prior to this, Mr. Deldağ was a partner at Arthur Andersen and Head of M&A for Turkey and the Balkan region. Mr. Deldağ earned his degree in management engineering from Istanbul Technical University.
Firas Nasir joined Carlyle in 2007 to lead the firm’s investment activities in the GCC. Prior to joining Carlyle, Mr. Nasir specialized in Mergers & Acquisitions at Credit Suisse First Boston in New York and Silicon Valley, and UBS Investment Bank in San Francisco. Mr. Nasir earned his M.B.A. from the Wharton School at the University of Pennsylvania, and his M.S. from Columbia University in Mechanical Engineering.
Carlyle MENA Partners, L.P., is a $500 million growth capital and buyout fund established in March 2009. Recent investments made by Carlyle MENA include: Bahcesehir Koleji, one of the largest private education providers in Turkey (December 2011) and Alamar Foods, operator of Domino’s Pizza and Wendy’s restaurants throughout MENA and producer of food products for the casual dining industry (December 2011).
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The Carlyle Group
The Carlyle Group is a global alternative asset manager with $148 billion of assets under management in 89 active funds and 52 fund of fund vehicles as of September 30, 2011. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has developed expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,200 people in 33 offices across six continents.