Citadel Capital seeks capital from Chinese LPs
Middle Eastern private equity firm Citadel Capital is seeking to raise capital in China and is in talks with a Beijing-based sovereign wealth fund, according to Stephen Murphy, the firm’s managing director responsible for institutional fundraising.
Murphy told The EastAfrican that the firm currently has no Chinese investment but is interested in developing new fundraising channels. This comes after unrest in North Africa hampered Citadel's efforts to secure capital from within its home region through sales of portfolio companies.
The private equity firm, which is headquartered in Cairo, completed a fully subscribed rights issue last year, generating $174.5 million and it is negotiating a $150 million long-term financing facility from the US government's Overseas Private Investment Corporation (OPIC).
Founded in 2004 with a focus on the Middle East and North Africa, Citadel has more than $9 billion in assets under management across the energy, mining, agri-foods, cement, transportation and retail industries.
More on MENA
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.