47%
increase in global M&A between 2013 and 2014 prompts Emad Mansour
to create an investment bank to capitalize on MENA region’s investment
opportunities
17 MAY, 2015:
Audacia
Capital, the newly established investment bank licensed and regulated
by the Dubai Financial Services Authority (DFSA) held a reception at
Ritz Carlton Hotel, DIFC to mark the official launch
of its operations. The reception was attended by government officials,
leading businessmen, bankers and financial experts from the UAE and the
region.
Emad
Mansour, former CEO of Qatar First Bank and a leading expert in MENA’s
financial markets, to capitalize on the region’s growing investment
opportunities,
founded Audacia capital. It was established with paid up capital of
around AED 100 million and aims to target deals worth between $15 – 50
million, focusing on fast growing sectors including healthcare,
education, real estate and retail. To reinforce investor
confidence, Audacia Capital will seed investments with its own capital
alongside other investors.
Audacia’s
management team includes highly skilled private equity professionals
with combined 50 years’ experience in the financial services arena.
During the
past five years, the team executed over 20 significant transactions
across the MENAT, Africa and UK regions with an aggregate value of more
than $1 billion.
Emad Mansour, Founder and CEO, Audacia Capital said:
“We are proud to launch Audacia Capital
at this exciting time. The region continues to witness robust
economic growth where different countries continue to diversify their
economies into non-carbon sectors and encourage entrepreneurship hence
creating ample investment opportunities. Our aim is
to build Audacia Capital into a fully-fledged investment banking
powerhouse in the region by offering world-class investment
opportunities and securing attractive rates of return to our
shareholders and co-investors.”
Mansour
continues: “2014 was a big year for M&A and private equity as
global deal activity jumped 47% between 2013 and 2014. These exciting
growth conditions
prompted us to establish Audacia Capital to capitalize on these
opportunities. We have few promising deals in our pipeline and we and
are confident that Audacia Capital is well positioned to play a leading
role in the investment banking landscape of the region.”
Mansour
has more than 23 years of banking experience in the GCC. Most recently,
he led the team that established Qatar First Bank (2008), growing it
into a bank
with more than $1bn in assets under management. During his career, Emad
has also played a leading role in numerous high profile transactions
including the initial public offering of Kingdom Holdings, Mobily, and
Al Inma Bank. In addition, he played a significant
role in a number of successful acquisitions such as Qatar Engineering
and Construction Company, Kuwait Energy, English Home (Turkey) and Al
Noor Hospital in Abu Dhabi.
Audacia
Capital has chosen Dubai as its headquarters because of its robust,
world-class regulatory and legal frameworks, and easy access to regional
and international
cities. The city is also strategically located as a bridge between East
and West, whilst also enjoying the reputation of being a widely
recognized global investment hub.
According
to Thomson Reuters, Middle East equity and equity-related issuance
totaled $11.4 billion in 2014, a 173% increase in activity from 2013
($4.2 billion).
In spite of this increase in growth, private equity remains a largely
under-utilized asset class in the MENA region with potential for further
growth particularly in the mid cap segment where access to funds is
limited.