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Mar 04 2008

Abraaj Capital appoints Executive Directors for Egypt and Turkey

Yaser Gamali.
Yaser Gamali.

Yaser Gamali named Executive Director for Egypt

Selcuk Yorgancioglu named Executive Director for Turkey

Country heads to oversee Abraaj Capital 's activities in respective markets

Appointments in line with Abraaj Capital 's ongoing expansion across wider MENASA region
Dubai, March 4, 2008: Abraaj Capital , the premier investment firm specialising in private equity investment in the Middle East, North Africa and South Asia (MENASA) region, announced today the appointment of Executive Directors for Egypt and Turkey. Yaser Gamali, who will head the country office in Egypt, and Selcuk Yorgancioglu, who will head the Turkey country office, will oversee Abraaj Capital 's activities in their respective markets.

"On behalf of Abraaj Capital , I am delighted to welcome Yaser and Selcuk to the firm at this signal moment in our ongoing growth and geographic expansion," said Arif Naqvi, Vice Chairman and Group Chief Executive Officer, Abraaj Capital . "By setting up country offices in Egypt and Turkey, we are making clear our great confidence in the opportunities presented by these key markets, both of which are witnessing tremendous economic growth.

" Abraaj Capital has made significant investments in Egypt and Turkey in the past year, and will continue to identify opportunities to contribute to the growth of the economies of both countries," he added. "By providing the firm with on-the-ground senior management expertise and local insight, these appointments will significantly enhance our ability to manage our existing investments and identify new ones."

Prior to joining Abraaj Capital , Yaser Gamali served as Executive Chairman and Country Director in Egypt for Majid Al Futtaim Group, overseeing financial, property and retail businesses. In Dubai, he established and was Chief Executive Officer of Majid Al Futtaim Trust .

Previously, he served at HSBC Investment Bank as head of the Investment Banking Group in Saudi Arabia, Managing Director of HSBC Investment Bank in Egypt, and board member of HSBC Investment Bank in Dubai. He began his career with Ernst & Young advisory services in Australia, then held institutional and investment banking roles at ANZ Bank. In addition to his executive roles, he has served as a non-executive board member on a number of listed financial and industrial companies in the Middle East.

Prior to joining Abraaj Capital , Selcuk Yorgancioglu served as Chief Executive Officer and Head of Corporate and Investment Banking at Deutsche Bank, Turkey. Prior to returning to Turkey, Yorgancioglu served for seven years at Deutsche Bank in London, as a senior member of the emerging markets investment banking team focusing on Turkey, Emerging Europe, Russia and the CIS.

Previously, he was an Executive Vice President at Finansbank Group in Turkey, responsible for investment banking and project finance, while also serving on the board of Finansbank Group's asset management business. Earlier, Yorgancioglu served at ABN AMRO Bank and ABN AMRO-Rothschild, working out of Amsterdam and London, where he covered Emerging Europe and Turkey. He holds BA in Economics from Istanbul University and an MBA in Finance from the University of New Haven.

-Ends-

About Abraaj Capital :
Based in Dubai, Abraaj Capital is the premier investment firm specialising in private equity investment in the Middle East, North Africa and South Asia (MENASA) region. The management team has brought together some of the most compelling and successful transactions in the history of leveraged acquisitions across the region.

With US$5 billion of assets currently under management, Abraaj has pioneered institutionalizing private equity practice in the region and is setting trends and benchmarks for others to follow.

Winner of industry awards including 'Middle Eastern Private Equity Firm of the Year' from Private Equity International (2005, 2006 & 2007), the Banker Middle East Award for 'Best Private Equity House' in 2006 and for 'Outstanding Contribution to Financial Services' in 2007 and 'Best Private Equity House' at the World Private Equity Awards, MENA in 2007. Arabian Business recognized Abraaj among the 50 Most Admired Companies in the GCC in 2007. Abraaj is also the first pure private equity firm to be registered by the Dubai Financial Services Authority to operate out of the Dubai International Financial Centre.

Apart from managing its five private equity funds, Abraaj Capital Holdings Limited (ACHL) itself is extremely well capitalized, with an issued share capital of US$1 billion. Its 135 professionals come from 27 nationalities and achieve a coverage that spans the MENASA region. For more information please visit www.abraaj.com.

For further information, please contact:
Nicholas Nesson / Rick Todd / Ghaleb Zeidan
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com / r.todd@asdaa.com / g.zeidan@asdaa.com

© Press Release 2008


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