Kuwait Investors - VC, Private Equity and Real Estate

NBK Capital, a private equity firm from Kuwait, announced committing $20 million in mezzanine financing to Metito Utilities, a water and wastewater treatment solution provider.

The deal is jointly structured by NBK Capital and IFC, a member of the World Bank Group. The investment will support the company's expansion as a full service water and wastewater treatment concessionaire across the Middle East, North Africa and China. Currently operating in over 22 countries, MHL is the largest privately owned water treatment company in the region.

NBK Capital is listed in the Middle East Investors Directory with the code OR41.

More details from their release follows

NBK Capital acquired 30% equity stake in Dunya Goz Group, Turkey's ophthalmology hospital chain through its NBK Capital Equity Partners Fund, the firm's regional private equity fund focusing on growth and expansion opportunities in MENA and Turkey.

Dunya is one of the healthcare platforms in Turkey and the broader Middle East/Eastern Europe region with an annual revenues of $70 million. The Company currently operates a broad network of full scale hospitals, clinics and pretreatment centers across sixteen locations in Turkey and Europe.

NBK Capital Equity Partners Fund, managed by NBK Capital as part of its Alternative Investments Group, is a $250 million private equity fund that specializes in acquiring strategic stakes in companies in MENA and Turkey. The Fund implements an investment approach to create long-term sustainable value through financial, strategic, operating and corporate governance enhancements.

NBK Capital is listed in the Middle East Investors Directory with the code OR41.

More details from their release follows

SHUAA Capital, a financial services institution, confirmed the Kuwait Stock Exchange’s approval to sell its entire 48.69% stake in Al Kout Industrial Projects Company (AIP) to a group of Kuwaiti investors for more than $50 million.

SHUAA Capital bought the stake in AIP in 2006 and has since held the stake as part of its Principal Investments portfolio. AIP is a Kuwait-based chemicals business specializing in the production of Chlorine, Hydrochloric Acid, Caustic Soda and other related chemicals for a range of diverse applications from water treatment and food manufacture to oil drilling.

SHUAA is one of the 238 investment firms listed in the Middle East Investors Directory with the code OR49.

More details from their release follows

Kuwait Finance House (KFH) signed a direct residential real estate investment deal in Chicago with a total cost of $242 million. The compound includes 40 floors and is currently under construction.

Kuwait Finance House will continue to seek opportunities in the real estate markets of the United States, Europe, South East Asia and China in order to accomplish investment opportunities. They will focus on income producing assets with attractive yields and guaranteed occupancy levels.

(To see more investors like Kuwait Finance House check our investors directory)

Their full press release follows

Continue reading "Kuwait Investors in a Chicago real estate deal worth $242 million" »

In the 18 months since the global crisis started, Kuwait Investment Authority (KIA), Kuwait's sovereign wealth fund, has invested $30bn-$40bn abroad - the Financial Times is reporting.

For example, it took a $750m stake in funds manager BlackRock in the spring and that investment has more than doubled in value since then. This is the case with other SWF in the region as well. For example the mandate of Abu Dhabi's main sovereign wealth fund, the Abu Dhabi Investment Authority, is to invest overseas and not domestically and analysts expect it to continue doing so - according to FT.

(Kuwait Investment Authority is listed in the Middle East Investors Directory with the code BD45)

A Kuwaiti conglomerate is suing private equity firm Carlyle Group in a local court, alleging that it misrepresented the safety of affiliate Carlyle Capital Corp (CCC), a public debt fund that collapsed in 2008, the Financial Times reports.

The conglomerate, National Industries Group, invested $50 million in the fund, which was marketed to investors in other Carlyle funds as a safe fund that would invest largely in triple A mortgage-backed securities, the newspaper reported.

"Arab money made Carlyle what it is," said the head of the investment bank of one major financial institution in Dubai - according to FT.

(The National Industries Group is listed in our Middle East Investors Directory with the code EM15)

PLUS Markets Group, an investment exchange based in London, and Amara Dhari, a special purpose vehicle set up by a syndicate of Middle East investors, concluded an agreement for Amara Dhari to acquire a 17 per cent shareholding for around $8 million (7.5p per share).

Amara Dhari is a limited liability company incorporated in the British Virgin Islands. Two new board members from the Middle East are appointed as non-executive directors of the firm: From their release: "(1) Ahmed Ibrahim Al Asfour, a prominent businessman from a well regarded GCC family, spent his early career working for oil companies. From 1992 to 1996 he worked for the Ministry of Oil for the State of Kuwait and presently serves as Chairman and CEO of Ritaj Insurance Company as well as holding a number of other board appointments. (2) His Excellency Hisham S. Al Otaibi, the former Minister of Commerce and Industry for the State of Kuwait. He has been a member of the Kuwait Supreme Petroleum Council since 1999. His Excellency currently serves as a director of the Kuwait Stock Exchange, having formerly been its President and is Chairman of Contracting & Marine Services Co."

So what other benefits can a Middle Eastern group like Amara Dhari give to a UK firm? According the company statements, Amara Dhari and its shareholders intend to use their relationships with financial institutions, high net-worth individuals, family and international companies headquartered in the GCC to drive Islamic and other companies and products onto PLUS’ primary markets and promote dual listings; introduce GCC financial institutions, banks and other organisations to PLUS; introduce trading members to promote cross-trading; work with PLUS in the creation of a Shariah compliant trading platform or segment; and finally assist PLUS in establishing a presence in the Middle East.

Seems like great benefits for just $8 million.

Kuwait Investment Authority (KIA), the Kuwait sovereign wealth fund, has no plans to sell its stakes in US banking giants Citigroup and Merrill Lynch, the finance minister said in comments published on Sunday - reported by AFP.

In late 2007, Kuwait Investment Authority acquired stakes worth $3 billion in Citigroup and $2 billion in Merrill Lynch.

Back in June, Abu Dhabi sold more than 11 percent of Barclays, making $2.5 billion from their investment in Barclays. But Kuwait investors seems to be keepers ...