Consolidation in private equity space continues. Abraaj Capital, PE major with investments in Asia, Africa, Middle East and Turkey has acquired Aureos Capital, a global private equity fund with investments in small and medium-sized enterprises (SMEs) across India and other Asian countries, Africa and Latin America.
It is one of the major buyouts that took place in PE space, after the acquisition of Saffron Asset Advisors by IL&FS Investment Managers (IIML), in 2010.
According to the statement, the combined entity will have approximately $7.5 billion in assets under management, a presence in around 30 countries across all global emerging markets, and a total of 153 investments.
With an operational presence in more than 20 countries, $1.3 billion in funds under management and over 250 deals completed in the SME segment in the last two decades, Aureos has a strong presence in India, too.
Aureos, which is raising $200-million India Fund II, has investments in Indian companies such as Sai Security Printers Pvt Ltd, and Chennai-based publishing ser vices provider Newgen Knowledge Works Pvt Ltd. The acquisition also brings Aureos together with Abraaj’s existing $650 million SME platform, Riyada Enterprise Development .
Omar Lodhi, Chief Executive Officer, Abraaj Capital Asia said, “"With this transaction, we are redoubling our focus in East Asia and the Indian sub-continent and significantly enhancing our operational footprint, access to investment opportunities and commitment to capital.”
In Asia, Aureos has networks with over 35 investment professionals operating out of 10 offices across East Asia and the Indian sub-continent and a track record of investments in over 45 SME businesses.
The Dubai-based Abraaj Capital had opened an office in Mumbai last year.
