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Japan’s SBI Holdings, Invest AD form $100m Turkish private equity fund

BBR Staff Writer Published 26 May 2011

SBI Holdings, a financial conglomerate in Japan, and Invest AD, an UAE-based financial services firm, have formed a new joint private equity fund worth $100m with focus on acquisitions in Turkey.

SBI said that the fund will supply growth capital and employ its international networks and expertise to help promising companies to improve economies of scale, grow market share and expand overseas. The fund will be jointly managed by the two companies from an office in Istanbul.

Both the firms will invest equally in the fund, looking at opportunities in several sectors, including consumer goods, food, retail, services and pharmaceuticals and healthcare as well as on other sectors for specific deals.

SBI Holdings representative director and CEO Yoshitaka Kitao said that SBI is looking to expand its asset management activities across the world through partners with on-the-ground expertise.

Invest AD has already made one acquisition in Turkey, buying a minority stake in late 2009 in EKOL Logistics, one of the country's biggest players in Turkish-European trade. It also has private equity investments in the Middle East and Africa.

The SBI-Invest AD partnership in Turkey follows a similar agreement between the two companies in late 2010 to invest in a joint fund worth up to $100m for Africa.