DUBAI, July 24 (Reuters) - Abraaj Capital, the Middle East's largest private equity firm, closed its acquisition of UK-based Aureos Capital, it said on Tuesday, and appointed a new chief executive for the specialist fund manager.

Abraaj struck a deal to buy the emerging market fund manager in February, creating an entity with approximately $7.5 billion in assets under management. Financial terms were not disclosed.

Abraaj, which owns stakes in Orascom Construction OCIC.CA , budget carrier Air Arabia AIRA.DU and supermarket chain Spinneys, said at the time it would not raise fresh debt for the acquisition. ID:nL5E8DK11K

The Dubai-based firm said Tom Speechley, senior partner at Abraaj Capital, has been appointed chief executive of Aureos Capital and will manage the firm's small and mid-cap assets, the statement said.

Aureos manages assets of $1.3 billion and provides expansion and buyout funding to small and medium-sized businesses in Asia, Africa and Latin America. Its chief executive Sev Vettivetpillai will now be the executive chairman of the company, Abraaj said.

(Reporting by Praveen Menon; Editing by Amran Abocar)

((praveen.menon@thomsonreuters.com)(+971 4 3625835)(Reuters Messaging: praveen.menon.thomsonreuters.com@reuters.net))

Keywords: DUBAI ABRAAJ/AUREOS