CEE - BMB Group acquires EMP Global

EMP's offshore business will become BMB Emerging Markets, the emerging market direct investment arm of BMB Group, and will launch direct investment funds focused on energy, infrastructure and financial services globally. The combined group will have a total of USD 12bn in assets under management. Meanwhile EMP's US operation will continue to run independently, managing existing private equity funds for corporations and governments. According to BMB Emerging Markets, the new group is planning new office openings in emerging markets.

Founded in 1992, EMP has raised USD 7bn in private equity funds. It has offices worldwide including Washington, Hong Kong and Bahrain. In Central and Eastern Europe it is the principal advisor to the AIG Emerging Europe Infrastructure Fund, which is currently winding down its portfolio, and holds a minority interest in Abris Capital Partners, based in Warsaw, Poland.

EMP partner Moeen Qureshi has been appointed as vice chairman of the BMB Group. Qureshi is former Prime Minister of Pakistan and COO of the World Bank. Former head of Merrill Lynch Europe and treasurer of The World Bank, Don Roth, joins as head of principal investments.

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