Monday, Jan 30, 2012
DUBAI (Dow Jones)--Private equity giant The Carlyle Group said Monday that two of its managing directors will succeed Walid Musallam to lead the firm's Middle East and North African operations.
"Walid Musallam is leaving the firm. Can Deldag and Firas Nasir will succeed him and lead Carlyle MENA Partners," a spokesperson for the group said.
Deldag is currently responsible for the group's Turkish investments, while Nasir heads the Gulf Cooperation Council, or GCC, operations of Carlyle in the Middle East and North Africa.
Carlyle has been one of the most active international private equity firms in the region. In December, it bought 42% of a Saudi Arabian food firm.
"The fund is showing strong progress and the four recent investments, which have all been in Turkey or the GCC, are performing very well," Carlyle said.
-By Nicolas Parasie, Dow Jones Newswires; +9714 446 1681; nicolas.parasie@dowjones.com
(END) Dow Jones Newswires
30-01-12 1610GMT
