NBK Capital announced today that it has launched its second private equity fund, NBK Capital Equity Partners Fund II, L.P. with USD 217 million in capital commitments. The firm is continuing to fundraise and expects to reach its target size of USD 300 million within the coming quarters. The new fund will build on the firm’s successful strategy of investing in growth opportunities in middle market companies across the MENA region.
Amjad Ahmad, Senior Managing Director and Head of Alternative Investments at NBK Capital commented, “The strong support from our existing investors provided the foundation for a substantial first closing. We appreciate their continuing confidence and endorsement of our strategy to grow and develop middle market companies in this dynamic region.”
NBK Capital has been a leader in alternative investments in the MENA region since its launch in 2005. The firm successfully launched its inaugural private equity fund in 2007, NBK Capital Equity Partners Fund I, followed by the region’s first credit fund in 2008, NBK Capital Mezzanine Fund I. Both funds focused on growth opportunities in middle market companies operating in the MENA region specifically in the GCC and Turkey. Today, the firm boasts an investment platform with an experienced team of 19 professionals operating from Dubai, Kuwait and Istanbul. The management team has implemented an effective hands-on investment approach to drive growth and efficiency in companies primarily in consumer driven sectors such as consumer staples, education, healthcare and consumer discretionary. 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. Through the latest fund, the management team will continue to build on the success of their proven strategy of partnering with growing businesses and implementing systematic initiatives to accelerate growth and productivity leading to superior returns for investors.
Amjad Ahmad further commented, “I am extremely proud of the team and track record we built over the past eight years. Our ability to invest and exit investments to generate attractive returns in any economic cycle is a testament to our focused strategy and capability to drive long-term value.”
NBK Capital is currently finalizing several investments for the new fund, which will be announced shortly. The first investment will be in a popular casual dining restaurant chain based in the UAE. The final closing of the fund is expected during 2014.