"The integration with the Abraaj Group is a testament to Aureos’ success and investment proposition in the high-growth economies of Asia, Africa and LatinAmerica," Sev Vettivetpillai, Chief Executive Officer, Aureos said,
"It further validates and strengthens our business model and will provide us with access to greater resources, tremendous synergies in the back office, new markets, and compelling investment opportunities."
The combined entity will have approximately 7.5 billion in assets under management, a presence in over 30 countries across emerging markets, and 153 investments managed by 150 investment professionals.
Abraaj said when its 650 million dollar Riyada Enterprise Development unit which focuses on the Middle East and North Africa is added, Aureos and RED will become the largest private equity firm in the region, targeting SMEs.
"This is a very exciting opportunity for Abraaj Capital and enables us to further extend our leadership position in emerging markets,"