(MENAFN - Khaleej Times) Abu Dhabi Invest AD and US private investment company Paladin Capital Group have established a private equity joint venture that will channel investments into the Middle East and North Africa region and Turkey.
The joint venture between Paladin Capital (Middle East) Limited, a company registered in the Dubai International Financial Centre and Invest AD, a subsidiary of the Abu Dhabi Investment Council plans to launch a 100 million fund to tap growing global investor interest in new emerging markets growth opportunities.
The joint investment team has identified a strong deal pipeline in the Middle East, North Africa and Turkey, a region that is expected to see GDP growth of 4.7 per cent this year and 3.8 per cent in 2013.
"Small- and medium-size companies are the backbone of the region's economy, and they are hungry for capital to expand, operationally and geographically, in the process creating jobs and increasing profits" said Michael Steed, Founder and Managing Partner of Paladin Capital Group and Chairman of Paladin Capital (Middle East) Limited.
"As they move to the next level, their prospects are excellent, given that MENA economies are set on a strong growth trajectory, and are performing well considering the uncertain global backdrop."
"Companies in the MENA region are looking for stable and respected partners to help them achieve their ambitions, not just with capital, but with expertise and international business networks," said Invest A.D.'s chief executive officer, Nazem Fawwaz Al Kudsi.
"The Paladin-Invest A.D. partnership delivers weighty international experience, an excellent deal making track record, and a deep boots-on-the-ground knowledge of the region's public and private sectors," he added.
The joint venture's advisory board includes leading figures, such as former NATO Supreme Allied Commander General Wesley Clark, former Senior White House Advisor Richard Clarke, and former Chairman of the US Democratic National Committee Terry McAuliffe.
Paladin Capital Group is a leading multi-stage private equity firm with offices in Washington, D.C., New York and Dubai, UAE that provides funding to growing companies.
Across the globe, from Silicon Valley to Brazil, Paladin invests in "best-of-breed" companies with technologies, products, and services that meet the challenging demands of commercial, federal, and international customers.
Paladin is comprised of individuals with a proven track record of financial expertise and technical competence. Collectively, Paladin's investment professionals have completed over 125 direct and co-investments transactions in a wide range of industries.
Paladin has approximately 1 billion of committed and invested capital across multiple funds and has invested in over 50 portfolio companies.