Private equity firm adds new Dubai base

17/11/2008 - Dubai Investment News
Private equity firm adds new Dubai base
A new private equity firm has been set up in Dubai to target a number of opportunities in the region.

MerchantBridge-UBS Private Equity is a joint venture between UBS Global Asset Management and Middle East specialists MerchantBridge.

The new company will be based in Dubai and focus on direct investments such as oil and gas and the financial services sector.

Basil Al Rahim, chief executive of the newly-founded firm, said that the Middle East region will promise investors "strong growth" despite the overall economic climate.

"The Middle East region is experiencing tremendous expansion supported by sound macro-economic fundamentals. This expansion is offering important opportunities to invest in private businesses across the region," he explained.

Mr Al Rahim added that $2.6 trillion in oil earnings is expected in the Gulf Cooperation Countries over the next five years.

The new equity fund will be worth $500 million and will target opportunities of between $50 million and $100 million.
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