“Private Equity is increasingly becoming a primary solution for companies seeking growth capital, pre-IPO investments, or deleveraging solutions”, Taimoor Labib
UAE, 03 June, 2012 – Standard Chartered announced today that it has won the “Best Private Equity House in the Middle East for 2011” Award by world-renowned finance magazine, emeafinance. The awards will be presented at a charity dinner at the Grand Connaught Rooms in London.
In 2011, Standard Chartered Private Equity (“SCPE”) successfully closed two Private Equity deals in the Middle East region. In August of 2011, the bank announced the acquisition of a minority stake in Construction Products Holding Company (“CPC”) through an equity investment of USD 75 million. CPC is Saudi Arabia’s largest manufacturer and provider of building materials. In the same year, the Bank announced a USD 75m Mezzanine Investment in Hassan Mohammed Jawad & Sons BSC, a family-owned private company based in Bahrain.
Taimoor Labib, Managing Director and Regional Head of MENA Private Equity at SCPEL said:
“Since 2010, Standard Chartered has been in discussions with a wide range of regional companies to identify private equity and mezzanine investment opportunities. In the Middle East, private equity is increasingly becoming a primary solution for companies seeking growth capital, pre-IPO investments, or deleveraging solutions. With a strong balance sheet and a deep commitment and understanding of the region, Standard Chartered is ideally positioned to continue investing in our clients. We are humbled to receive this award which recognises our increasing leadership in the industry.”
Since 2002, Standard Chartered, through its Principal Finance Group, has invested approximately $5.0bn in more than 65 companies throughout Asia, Africa and the Middle East. The investments aim to provide growth capital to enable development and expansion, buy outs and acquisitions, and balance sheet restructuring. The Principal Finance Group invests directly in companies through Private Equity, Infrastructure, Real Estate and Distressed Investments.