Abraaj Capital investing $700 million in small and medium sized firms

Abraaj Capital, Dubai private equity firm managing $6.6 billion, plans to buy stakes in more than 100 small and medium sized companies by spending about $700 million from its Riyada Enterprise Development fund along with partner investors - the Bloomberg is reporting.

Abraaj plans to invest in health care, manufacturing, education, information and communication technologies, logistics, agribusiness and food industries in countries that include Egypt, Lebanon, Jordan, Algeria, Pakistan and Turkey, the Palestinian territories and the six Gulf Arab nations that make up the Gulf Cooperation Council. It is looking at 30% to 40% ownership and in some cases majority ownership.

Abraaj Capital is listed in the Middle East Investors Directory with the code OR01.

More details from the Bloomberg follows