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Abraaj Capital shareholders launch Menasa Capital Management

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Shareholders of Abraaj Capital, a private equity group focusing on the Middle East, North Africa and South Asia, have launched asset management house Menasa Capital Management.


Shareholders of Abraaj Capital, a private equity group focusing on the Middle East, North Africa and South Asia, have launched asset management house Menasa Capital Management.

Based in Dubai, MCM chief executive officer Ahmed Nashaat leads a team of 12 investment professionals with financial services experience in the region and globally.

Most team members were formerly investment professionals in the public markets division of Abraaj Capital. 

Prior to joining MCM, Nashaat was the Middle East regional director for the Permal Group.

Nashaat says: “We believe the combination of our team’s pedigree, our depth of experience as investment managers in the Menasa region and our strong risk management, compliance and operational infrastructure provides us with a competitive advantage. MCM was founded by the same shareholder base as Abraaj Capital but the businesses are completely separate.”

Menasa Capital Management currently manages one multi-strategy fund, as well as a number of segregated accounts.

MCM’s flagship multi strategy fund was launched in the third quarter of 2009 and invests in both public equity and fixed income related instruments in the Menasa region.

The group’s current regional focus includes Egypt, Jordan, Saudi Arabia, Kuwait, Morocco, Oman, Qatar, Turkey and the UAE and it will also look at opportunities on a selective and opportunistic basis in Algeria, Bahrain, Lebanon, Libya, India, Iraq and Pakistan.

MCM currently has USD350m in assets under management.

Arif Naqvi (pictured), founder and group chief executive of Abraaj Capital, says: “We are very excited about the launch of MCM and the opportunities it offers investors looking to invest in the fixed income and equity markets in the Menasa region. In compliance with global best practices for corporate governance, MCM is structured as a completely independent entity from Abraaj Group, of which Abraaj Capital is a part.”

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