Growth market investor The Abraaj Group has completed 15 exits through its funds in 2013.
The most recent deals include:
• The sale of Abraaj’s 50 per cent shareholding in Turkish health insurance company Acıbadem Sağlıkve Hayat Sigorta to Khazanah Nasional Berhad, the Government of Malaysia's strategic investment fund;
• Abraaj’s full exit from its investment in GEMS Education, one of the world’s leading K-12 education providers;
• The exit from Tunisian pharmaceutical company Opalia Pharma via the sale of its shareholding to Recordati, an international pharmaceutical company listed on the Italian stock exchange;
• The exit of Abraaj’s investment in Thai restaurant chain Hot Pot, through an initial public offering (IPO) on the Thai stock exchange which was more than three times oversubscribed;
• The sale of Abraaj’s investment in HFC bank, one of the leading domestic banks in Ghana, to Republic Bank Limited, an independent Caribbean bank.
Abraaj’s exit activity has enabled the firm to realize approximately USD700m for its investors in the current year and USD1.7bn from 30 investee companies since the beginning of 2012.
Exits took place in 17 countries in Africa, Latin America, Asia, the Middle East, and Turkey.
Realizations occurred through a variety of exit routes, including well subscribed local market IPOs and trade sales to both international and other growth market players. During the same period, Abraaj continued to be one of the most active investors in these markets, committing close to USD1bn across 20 countries.
Arif Naqvi (pictured), founder and group chief executive of The Abraaj Group, says: “The past two years have seen a significant increase in Abraaj’s investment and exit activity. Particularly satisfying has been Abraaj’s ability to source quality investments, consistently drive growth in partnership with the local management of our investee companies, and deliver successful realizations across our markets.
“We believe that the enormous growth potential and economic momentum of our markets creates a very encouraging long-term environment for investing. Naturally, this has led to investors of all types now becoming active in these markets, which we welcome as it should positively impact the communities that Abraaj has been working with for the past 20 years. What sets us apart is that we are purpose built for growth markets; a next-generation firm for next-generation markets. The combination of Abraaj’s best-in-class structure, global footprint and local expertise is unique. This was most recently exemplified by the acquisition of Fan Milk International A/S in West Africa, which represents the largest FMCG private equity transaction in Sub-Saharan Africa to date, outside South Africa.”
