UAE-based buyout firm Gulf Capital is expecting to launch a new private equity fund in the first half of 2020.
Speaking to local newspaper, The National, Gulf Capital chief executive Karim El Solh said the new fund would be the firm’s fourth and largest to date in order to help the firm meet its stated ambition of growing assets under management from $3 billion to $5 billion within the next five years.
He also said that the new fund would be focused on providing diversification and would look beyond the Gulf Cooperation Council (GCC) to deploy some capital in emerging markets in Asia and Africa as well as a number of new industries.
“We want to be invested in all the fast-growing sectors – be it fintech, payments, healthcare, logistics, food distribution – we are building a portfolio of assets, and want diversification,” said El Solh.
News of the possible fund launch follows Gulf Capital’s recent acquisition of a 70% stake in UAE-based healthcare firm Medica for an undisclosed sum.
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