Carlyle linked to more Middle Eastern delights...

Back in 2007, before the first global recession began, Carlyle Group, the US private equity firm, successfully completed raising a fund of around $500m that was specifically earmarked for the MENA region.

Obviously the last four years have not exactly been easy for the private equity industry and Carlyle has only invested in three companies from within the region to date. The three investments currently held are The General Lighting Company, based in Saudi Arabia and made back in early 2010, Medical Park, a healthcare company located in Turkey and invested in mid-December 2009, and TVK Gemi, another Turkish company invested in back in July 2008.
However, yesterday Carlyle was linked to a potential investment in another Saudi Arabian company, Al Jammaz Group, and is supposedly in the middle of finalising its purchase of another Turkish company, Bahcesehir K-12.

No parties are officially commenting on the possible Al Jammaz deal at this point but the alleged investment, whilst not a controlling stake, would be further proof that that Middle East and North Africa remain interesting to private equity buyers, with Carlyle currently being the dominant international player.
As it looks at the moment, the Middle East is proving to be full of ‘eastern promise’ for the Carlyle Group.

Filed under: Gulf, MENA, PE, ArabStates