Monday, May 09, 2011
BEIRUT (Zawya Dow Jones)--Kuwait's Global Capital Management, or GCM, a wholly-owned unit of Global Investment House, plans to launch a private equity fund in Turkey with a targeted capital of $350 million to invest in small and medium-sized enterprises, or SMEs, there, Kuwait-based Al Rai daily reports Monday citing a GCM partner.
The fund will first focus all its activities on Turkey then it will be marketed in the region once the approvals are given by the involved countries, Ihsan Sancay, GCM's partner in Turkey, told the paper.
The fund will invest in SMEs with growth potential whether they are family businesses or shareholding companies, the daily cites Sancay as saying.
Newspaper website: http://www.alraimedia.com/Alrai/Article.aspx?id=274240&date=09052011
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
09-05-11 0427GMT
