Mubasher: The Abraaj Group closed its first dedicated Turkey fund launched in 2014, according to a statement.
The fund raised $486 million with a further $40 million raised for co-investment, against a target of $500 million.
“The fund targets well-managed, mid-sized businesses operating primarily in sectors poised to benefit from growing domestic consumption such as consumer goods and services, healthcare, financial services, logistics and retail,” the statement noted.
The Abraaj Turkey Fund I made two investments up to date, in Turkish ecommerce platform Hepsiburada and Fibabanka.
