Gulf Cap Teams with Credit Suisse

Gulf Capital and Credit Suisse have formed a long-term strategic alliance to make private equity investments in the Gulf and Middle East regions. No financial terms of the arrangement were disclosed, save that each institution was committing “a significant amount of investment capital.”


Gulf Capital (“GC”), one of the most active Gulf private equity firms, and Credit Suisse, one of the world's largest alternative asset managers with $155 billion in alternative managed assets, announced today an agreement in principle to launch a long-term strategic alliance focused on investing in the fast-growing Gulf and Middle Eastern economies. The Gulf Cooperation Council (“GCC”) countries, with an average GDP growth rate of 6.3% and a robust population growth rate of 3.5% over the past five years, (amongst the highest in the world) provide an ideal backdrop for investing in the region. As a strong sign of their commitment to the alliance, Gulf Capital and Credit Suisse will commit a significant amount of investment capital to the alliance.

Commenting on the far-reaching partnership, Mr. Waleed Zahid, Vice Chairman of Gulf Capital said: “We are delighted to partner with such an esteemed global institution. Credit Suisse, one of the world's largest alternative asset managers, is the ideal partner to help us co-manage this venture. Credit Suisse's long-term partnership with Gulf Capital and its investment in the venture are a strong testament of its commitment to the region.”

Brian Finn, Chairman of Credit Suisse's Alternative Investments business said: “We are very pleased with this alliance as it brings out the best of each party: Gulf Capital's on-the-ground presence, unique access to proprietary deal flow, proven investment expertise and post-acquisition skills, combined with Credit Suisse's strength in managing private equity and alternative assets and regional and global investment and private banking capabilities. The combination of our local and global capabilities will help us create a superior investment platform. We look forward to working with the Gulf Capital team and their investors and partners throughout the region.”

Dr. Karim El Solh, Chief Executive Officer of Gulf Capital, concluded: “This alliance comes at an exciting time in the history of Gulf Capital. The Firm has been very acquisitive in recent years and has bought market leaders in the water, oil & gas, telecom, construction and education sectors, some of the fastest growing industries in the region. The launch of this alliance with Credit Suisse will enable us to continue our investing momentum and to target larger acquisitions in the region. Of particular help to us will be Credit Suisse's expertise in leveraged buy-outs, its global footprint, financial strength and award-winning debt and equity franchise in the Middle East. This strategic alliance will allow us to capitalize rapidly on the unprecedented regional investment opportunities and to firmly establish Gulf Capital as the premier alternative asset manager in the GCC.”

About Gulf Capital

Gulf Capital is one of the most active and experienced private equity firms in the GCC region. The Firm's focused investment strategy is predicated on producing superior financial returns through building stronger, more profitable regional businesses. Incorporated in Abu Dhabi in 2006 as a Private Joint Stock Company, Gulf Capital was established with a capital base of AED 1.225 billion (USD 330 million) from over 250 of the most prestigious institutional and individual investors in the Gulf. Gulf Capital is focused on acquiring strategic and majority stakes in highly profitable and rapidly growing companies within a select number of fast-growing industries in the GCC region. The Firm's portfolio investments include large market leading companies such as Metito, Maritime Industrial Services, Gulf Marine Services and Depa United. Gulf Capital is rapidly emerging as a leader in the field of private equity investing in the Middle East.

About Credit Suisse

As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at

Asset Management

In its Asset Management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income and multiple-asset class products, to alternative investments such as private equity, real estate, hedge funds, and volatility management. Credit Suisse's Asset Management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 23 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

The Asset Management business of Credit Suisse is comprised of a number of legal entities around the world that are subject to distinct regulatory requirements; certain asset management products and services may not be available in all jurisdictions or to all client types.

Credit Suisse Alternative Investments (“CSAI”) is a leading global alternative asset manager involved in private equity, hedge funds and related activities. The CSAI businesses include Funds and Alternative Solutions, Leveraged Investments, Quantitative Strategies, and Volaris as well as a diverse family of private equity funds, including leveraged buyout funds, mezzanine funds, core and opportunity real estate funds, secondary funds and private equity fund of fund businesses. With over $155 billion in managed assets and exceptional investment performance, Credit Suisse is one of the world's largest and most successful managers of alternatives. CS AI is also the world's leading placement agent in alternative assets, raising capital for third-party managers through its Private Fund Group and Real Estate Private Fund Group. The CS AI businesses have more than a 20-year history of strong investment performance, with leading market share positions.