(MENAFN) Abraaj Group Ltd, the Dubai-based emerging markets buyout firm, raised USD375 million for its North Africa private equity fund as investor appetite for the region gains.
The closing of the new fund brings the amount that Abraaj has raised for African investments to USD1.4 billion this year, the company said in an e-mailed statement.
Abraaj raised USD990 million for its third sub-Saharan Africa fund in April. The North Africa fund will make investments in mid-market businesses in Algeria, Morocco and Tunisia in various industries.
Funds raised in the Middle East and North Africa rose last year to USD1.23 billion, the highest level since 2008, according to a report by the Mena Private Equity Association earlier this month.
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