NBK Capital announced today that it has successfully closed its latest private equity fund, NBK Capital Equity Partners Fund II, with US$310 million in capital commitments.
The fund was oversubscribed and exceeded its US$300 million target, driven by strong demand from institutional investors and family offices. The fund will continue the firm’s successful investment strategy of acquiring stakes in middle market companies across the MENA region. Amjad Ahmad, Senior Managing Director and Head of Alternative Investments at NBK Capital commented, “We will continue to focus on middle market private equity investments where we believe there are significant opportunities to drive value and returns. Our team’s intense focus on developing and growing companies will continue to be a key factor in delivering strong returns for investors.”
The management team has implemented an effective hands-on investment approach to drive growth and efficiency in companies primarily in consumer sectors such as consumer staples, consumer discretionary, education and healthcare. The team’s track record has been one of the most consistent in the region achieving top quartile returns for their first fund relative to global and emerging market comparable funds during the same period.
NBK Capital Equity Partners Fund II has already invested in two companies: Shakespeare and Co., a popular casual dining restaurant chain based in the UAE and Yatsan, a leading mattress manufacturer and retailer based in Turkey. The team is completing the third investment and there are several other investments in various stages of development.