UBS Global Asset Management has joined forces with MerchantBridge, a direct investment and private equity firm with a Middle East focus, to form MerchantBridge-UBS Private Equity.
The 50/50 joint venture will develop and manage a series of private equity investment strategies focused on the Middle East region and will be based in Dubai. The joint venture's first strategy will focus on making direct investments in a broad range of sectors including oil and gas services, financial services plus light and medium industries. It expects to initiate this strategy in the first quarter of 2009, targeting $500m in investments and seeded with $80m from the venture partners. Basil Al Rahim, founder and managing partner of MerchantBridge, has been appointed CEO of Merchant...
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