UK - 3i invests in Arabian Gulf
3i has announced that it is committing $15m to Ithmar Capital, the Gulf-based private equity firm, which is raising its second fund, Ithmar Fund II, expected to reach USD $250m.
The strategic alliance between 3i and Ithmar Capital is the first example of a foreign private equity firm’s participation in a GCC (Gulf Co-operation Council) fund to date. It also builds on 3i’s strategy to expand its international network into high growth territories, adding value to its $10bn portfolio and to gain exposure to new markets.
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