Private equity funds in the MENA region raised $1.2 billion in 2014, the highest yearly total since 2008, according to an annual study.
The research, by the MENA Private Equity Association, found that the value of disclosed private equity investments last year had also risen, to $1.5 billion, more than twice the level in 2013.
“The survey is evidence of a significant development in the industry over the last year with the successful conclusion of a number of large and complex transactions,” says Declan Hayes, managing director at Deloitte Corporate Finance, which compiled the report alongside the MENA Private Equity Association and data provider Zawya.
“Our confidence survey demonstrates that while the industry inevitably faces challenges the outlook is certainly positive,” he adds.
The report highlighted transactions in 2014 including an investment in GEMS Education by Fajr Capital, Mumtalakat and Blackstone. Fajr Capital was also involved in the consortium that invested in National Petroleum Services.
The UAE and Saudi Arabia together accounted for three quarters of the investment activity in the report in 2014.
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