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BMB buys 50 per cent stake in EMP Global

BMB Group, a global alternative assets manager, has announced it is buying 50 per cent of private equity firm EMP Global for an undisclosed sum.

BMB Group, a global alternative assets manager, has announced it is buying 50 per cent of private equity firm EMP Global for an undisclosed sum.

The combined group will have around USD12bn in assets under management.

EMP was founded in 1992 and was one of the first major private equity houses specialising in emerging markets.

The partnership has raised some USD7bn for private equity focussed on Asia, South America, Middle East and emerging Europe.

Rayo Withanage, chairman of BMB Group, says: ‘This transaction is in line with BMB Group’s stated strategy of acquiring industry leading investment companies and management. We see this time as an unprecedented opportunity for Eastern financial services players to capture global market positions.’

BMB was founded in 2004 to enhance the investment capabilities of investors throughout the Islamic world and to provide an Islamic financial structure for Islamic investors.

It has offices in Brunei, London, New York, Kuala Lumpur, Dubai and Riiyadh.

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