The leading private equity firm in the Middle East and Africa is a founding member of an industry association in its home market
The founders of Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa with US$ 8.3 billion in investments under control, today announce the launch of the Egyptian Private Equity Association (EPEA). Local business leaders gathered in Cairo today along with special guest global private equity chieftain David Rubenstein to commemorate the event.
“Continued rapid economic growth in Egypt and policymakers’ openness to having private equity participate in major projects in strategic sectors such as infrastructure and refining creates a unique opportunity for an industry body at this juncture in time,” said Citadel Capital Chairman and Founder Ahmed Heikal, a pioneer of the regional industry.
At the launch event today in Cairo, Carlyle Group Co-Founder and Managing Director David Rubenstein gave a speech on the challenges and opportunities post-financial crisis in the field of private equity.
“The EPEA will raise public awareness of the positive role private equity plays in national development, it will advocate for a constructive regulatory environment and it will serve as a unique platform for the exchange of information on industry best practices,” noted Citadel Capital Managing Director and Co-Founder Hisham El-Khazindar, who will represent Citadel Capital on EPEA’s board of directors.
With investments spanning 14 countries and 15 industries in the Middle East and Africa, Citadel Capital is independently ranked as the largest private equity firm in Africa. Since its founding in 2004, the firm has generated cash returns to shareholders and limited partners of more than US$ 2.5 billion on investments of US$ 650 million. Citadel Capital has raised equity and debt of more than US$ 3.5 billion this year, including a landmark financing package for the Egyptian Refining Company (ERC), one of Africa’s largest-ever private sector development projects.
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity firm in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity-Specific Funds. The firm’s 19 OSFs now control Platform Companies with investments worth more than US$ 8.3 billion in 14 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, Citadel Capital has generated more than US$ 2.5 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel Capital is the largest private equity firm in Africa by PE assets under management (2005-2010, as ranked by Private Equity International).
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