Abraaj collapse drives GCC-based investors towards U.S. and European fund managers

(Dubai)

In the wake of the Abraaj collapse, Greenstone Equity Partners observes GCC-based investors accelerating towards well-established fund managers in the U.S. and Europe, preferring to commit fund capital to safer havens in a flight to quality.  Greenstone’s Chairman and CEO Alex Gemici was quoted in Bloomberg as stating:

“The collapse of Abraaj has eroded institutional investor confidence built over the past 15 years in emerging market-based private equity firms,” he said. “We don’t see significant deployment of foreign institutional capital into fund managers based in the Middle East.”

Read the original article on Bloomberg:  The Firm That Wrecked Private Equity for the Middle East