Re: Dubai’s Abraaj Capital $300million stake in Pakistan’s largest steel forging house
The fund has a target size of US$ 300 million, and is a joint venture with BMA Capital, one of the most prominent investment firms in Pakistan. The fund will pursue a broad-based and opportunistic strategy and will concentrate on sectors with high growth rates and proven business models. It will also look into fragmented sectors with room for consolidation, significant barriers to entry, stability of business cycle and resistance to recession. The fund will provide its global investors with an opportunity to participate in Pakistan’s success story through a unique, alternative asset-class. Through the use of co-investments and leverage, it will facilitate investments of up to US$ 1 billion into Pakistan, across a range of industries over the next four years.