DUBAI/ABU DHABI: United Arab Emirates-based private equity firms Ithmar Capital and Gulf Capital are looking to sell shares to the public as they seek cash for new investments, according to sources, in a move emulating global peers.
Private equity in the Middle East suffered a difficult period at the end of the last decade, as challenging global market conditions and the bursting of local asset bubbles left groups unable to exit existing investments without major losses.
The economic rebound seen both locally and internationally has seen deal-making revived in the last two years, with many now divesting stakes and looking for new opportunities.
Dubai-based Ithmar Capital, which manages over $800m in investments, is looking to raise Dh3bn ($816.8m) for new assets, particularly in the education and healthcare industry, two sources said. Reuters
