Abraaj Capital, a private equity manager investing in the Middle East, Asia, Africa and Turkey, has pointed Citi to provide fund administration services for a US$ 650 million (€495 million) fund.
The Riyada Enterprise Development fund invests in small and medium sized businesses.
The fund was established in 2009 to capitalise on the growing investment opportunities in the small and medium sized enterprise segment across a wide range of sectors in the Middle East and North Africa.
It is sector agnostic and invests in entrepreneurially run and innovative businesses that are scalable into new regional markets.
Since the 2009, the fund has invested in 13 small and medium sized enterprises across the Middle East and North Africa region in diverse sectors, including agro-processing, media, pharmaceuticals and technology.
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