InvestAD MENA PE fund
InvestAD MENA PE fund is a private equity fund managed by Invest AD that will seek investments in Middle East and North Africa. The fund will be initially capitalized with $400 million. The fund has receive $75 million from Abu Dhabi's government. It's not quite clear if that initial funding came from the Abu Dhabi Investment Council. The remaining $325 million will come from external investors. The fund is hoping to reach a rate of return of 25%.
The fund is hoping to become operational in the 2nd quarter of 2010. Once that occurs, Invest AD's investment in EKOL will be transferred to the fund.