Gulf Capital plans to invest over $500 million (Dh1.8 billion) over the next two years in some key markets as part of its investment strategy, its chief executive officer told Gulf News in an interview.
The Abu Dhabi based firm plans to invest $350 million in private equity and $150 million in private debt, with a focus on key markets like Egypt, UAE and Saudi Arabia.
“We have a lot of dry powder left. We will be investing in the next two years, over $350 million in private equity and $150 million on the private debt. We are looking at over $500 million across the region to boost our growth,” Karim Al Solh said.
The company would be focusing on sectors like consumers, technology, renewable energy, business services, entertainment and tourism.
El Solh said the company plans deals in countries within a three to three and half-hour travel periphery from their portfolio companies that includes the Gulf, Egypt, Jordan and Lebanon. It is also looking at sub-Saharan Africa on the private debt side.
On Egypt, the company invested over $200 million in sectors like health care, consumers, petrochemicals, manufacturing and is looking at increasing its presence in the country.
“We are encouraged by what’s happening in Egypt. Egypt is growing above 5 per cent, they devalued the currency, restructured the economy, introduced new investment laws and foreign reserves are all time high. If you look at the IPO market, it is 10 to 15 times oversubscribed.”
Gulf Capital owns the largest chain of radiology imaging centres in Egypt. They are also in glass manufacturing, fuel bunkering, petrochemicals and water.
“We want to invest in sectors that are linked to consumers be it food, education, health care, manufacturing and also industries that tend to export.”