Friday, Jan 29, 2010
Gulf News
Davos, Switzerland The Palestine Investment Fund (PIF), a publicly owned investment fund which aims to strengthen the Palestinian economy through key strategic investments, and private equity group Abraaj Capital announce the first closing of a $50 million (Dh184 million) private equity fund dedicated to Palestine.
The private equity fund will focus on investing in small- and medium-sized enterprises (SMEs) in Palestine across a range of sectors and stages of maturity.
With a first closing at $15 million, the private equity fund is the first of its kind dedicated to the Palestinian economy. The initial commitments from the sponsors — PIF and Abraaj — will be supplemented by funds raised from investors in further closings planned later this year.
SMEs account for more than 95 per cent of enterprises in Palestine.
Staff Report
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