Private equity manager Abraaj Capital has completed the acquisition of Aureos Capital, a private equity fund management group investing in small and mid-cap companies in Asia, Africa and Latin America.
Abraaj Capital now has approximately USD7.5bn in assets under management, a presence in over 30 countries and over 150 investments.
Arif Naqvi (pictured), founder and group chief executive, Abraaj Capital, says: “The acquisition of Aureos is a pivotal moment for Abraaj as it consolidates our position as the pre-eminent private equity fund manager in global growth markets. As a result, Abraaj is able to provide investors with a unique opportunity to invest in high growth markets through multiple platforms.”
Sev Vettivetpillai, executive chairman, Aureos, says: “We are delighted to have completed this transaction with Abraaj which sets the strategic path for Aureos’ long-term growth and allows us to deliver value to our investors by bringing our portfolio of partner companies into new markets and developing mutually beneficial relationships with the Abraaj portfolio. From the outset, it has been clear that the business models, working cultures, and operational footprint of our two businesses fit together extremely well.”
While Aureos and Abraaj’s Riyada Enterprise Development (RED) Funds will benefit from the synergies of being part of a common platform, and operate under the single brand ‘Aureos’, all Aureos and RED Funds will continue according to their existing fund mandates and investment guidelines.
Tom Speechley, senior partner at Abraaj Capital, has been appointed chief executive officer of Aureos Capital. Vettivetpillai assumes the position of executive chairman of Aureos Capital and joins the executive committee of Abraaj Capital.
