Abraaj Group buys stakes in Turkish logistics firm

DAILY SABAH
ISTANBUL
Published 04.08.2017 00:09

The Abraaj Group, a private equity firm operating in growing markets in Africa, Latin America, the Middle East and Asia, has partnered up with Netlog, one of Turkey's largest logistics companies.

Speaking at a press conference, Investment Support and Promotion Agency of Turkey (ISPAT) President Arda Ermut said that 55 percent of all investments in the previous year came after July.

Recalling that foreign direct investment (FDI) to Turkey stood at $12.3 billion last year, Ermut said: "I think we will definitely exceed this figure this year. But the amount will be affected by regional developments and global uncertainties." He said that there was an increase of 11 percent over the first five months and that it could be preserved.

Pointing out that a significant portion of investments will continue to be made in real estate, Ermut said that new investments can be seen in the fields of logistics, healthcare, fintech, information, petrochemicals, food, energy and manufacturing.

Abraaj Group partner Omar Syed said they operate in 30 countries with 17 offices as a global company. Citing that they have managed funding worth $10 billion to date, Syed said $7.7 billion of this fund is held in companies as investments and that Abraaj has invested in 190 companies, as the largest private equity fund in the growing markets. "Cities are growing fast in Turkey, as well. Turkey is an important market for us. It is also an important center of the region. There are very good investment opportunities in the country, and we will invest in the fields of healthcare, retail and fintech," he said.

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