January 3, 2013 - Growthgate of Dubai May Invest $200 Million More in Mideast – Bloomberg

Growthgate Capital Corp., a Dubai-based private-equity (PEY) firm with investments in companies that are valued at $1.4 billion, said it may invest an additional $200 million in businesses in the Middle East that weren’t hurt by the turmoil of the Arab Spring as difficulties raising funds abate.

 

“The markets that we like the most, the Gulf Cooperation Council, plus Jordan and Morocco, have gained more prominence after the Arab Spring and we think that they hold the most promise for private equity,” Karim Souaid, managing partner of Dubai-based Growthgate, said in an interview on Dec. 31. “The private-equity ecosystem in these countries is at its best, and that’s political stability, economic prospects, middle class, demographics, purchasing power and rule of law.”