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Mena medium-term prospects 'promising' for private equity

January 30, 2014

The medium-term prospects for Middle East and North Africa (Mena) region remain "promising," unleashing growth opportunities for private equity in the region, according to a former governor of Turkey's central bank. "This is a particularly interesting period in our region's recent history. While geo-political events and shifting alliances have affected currencies and investor confidence, the medium-term prospects remain promising," Prof Bulent Gultekin , who was also a former adviser to a former Prime Minister of Turkey , told a recently held roundtable on 'Navigating Change in the Mena markets.' The prospect of stability in Egypt and resolution of the crisis in Turkey should provide the necessary confidence boost for the investor community, he said. These are sizable economies with close ties to the Gulf Co-operation Council and their stability and continued prosperity is a shared objective, Gultekin said at the function, organised by Lagoon Capital Partners , which is backed by Qatar Insurance Company . Also discussed were prospects for private equity this year in Mena countries and the need for further development of the regional secondary private equity market. Lagoon Capital , together with its strategic partner, HarbourVest , one of the premier global institutions focused on secondary private equity investing, are focused on providing liquidity solutions to regional investors on their existing private equity investment portfolios via secondary transactions. "With a promising outlook, we see continued opportunity for growth in regional private equity and, in particular, secondary transactions. These are an efficient way for investors to reposition their portfolios, a focus for many today, and an opportunity to reallocate capital towards new priorities in the year ahead," Anuj Khanna , CEO of Lagoon Capital , said. Lagoon Capital's other advisory board members such as former US Ambassador to Qatar , Joseph LeBaron ; Tarek Kanoo of the Kanoo Group ; Tracy Blackwell , board member, Pension Corporation ; and Sunil Talwar , deputy CEO, QIC were also present on the occasion.

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Source: Gulf Times (Qatar)

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