Abraaj Capital and Capital Investment enter into strategic partnership for Acibadem Healthcare Services

Abraaj Capital, the premier investment firm specialising in private equity investment in the Middle East, North Africa and South Asia (MENASA) region, announced today it has entered into a strategic partnership with Capital Investment LLC, a leading private institutional investment house based in Abu Dhabi, to support the domestic growth and international expansion of Acibadem Healthcare Services, Turkey’s leading healthcare provider, which is one of Abraaj Capital’s portfolio companies.

Abraaj Capital and Mehmet Ali Aydinlar, one of the founders and the Chief Executive Officer of Acibadem, earlier acquired a majority stake in the Turkish firm through a joint venture holding company. The new partnership between Abraaj Capital and Capital Investment will accelerate the development of the healthcare group and facilitate the long-term expansion of its healthcare services in the MENASA region, where the existing supply of high-quality medical services is generally insufficient.

Abraaj Capital also earlier acquired a 50 per cent stake in leading Turkish health insurance company, Acibadem Sigorta, from Mr. Aydinlar. Abraaj Capital’s investment was made through its US$ 2 billion Infrastructure and Growth Capital Fund (IGCF).

Acibadem, the only healthcare institution whose shares are traded on the Istanbul Stock Exchange, was founded in 1991 and is part of a premium integrated healthcare platform that provides secondary and tertiary private healthcare services, laboratory services, health and life insurance, hospital project management and hospital facilities management services. Its credentials include accreditation from Joint Commission International (JCI) and affiliation with Harvard Medical International.

Mustafa Abdel-Wadood, Managing Director, Abraaj Capital, and Chief Executive Officer, Abraaj Investment Management Limited, said: “Turkey, with its sizeable and expanding population, is very much a growth market, strategically placed between Europe and Asia. Healthcare, in particular, is a service for which there is a growing need and where the potential for expansion, domestically and in the region, is enormous. This new partnership with Capital Investment further strengthens Acibadem’s ability to serve both its rapidly growing domestic market and enter into the high-growth MENASA region. We are delighted to announce this partnership with one of Abu Dhabi’s leading private investment houses.”

Capital Investment is a substantial private institutional investment house based in Abu Dhabi, which invests in long-term value opportunities across select emerging and mature markets around the world.  Capital Investment LLC is a subsidiary of Abu Dhabi Capital Group, which has strategic interests in financial and real estate sectors.

Speaking in Abu Dhabi, Hafsa Al Ulama, Managing Director of Abu Dhabi Capital Group, said: “Our goal is to identify and execute value investments in the healthcare, education and infrastructure sectors, and we are pleased to partner with Abraaj Capital in this strategic acquisition.”

About Abraaj Capital:

Based in Dubai, Abraaj Capital is the premier investment firm specialising in private equity investment in the Middle East, North Africa and South Asia (MENASA) region. The management team has brought together some of the most compelling and successful transactions in the history of leveraged acquisitions across the region.

With US$5 billion of assets currently under management, Abraaj has pioneered institutionalizing private equity practice in the region and is setting trends and benchmarks for others to follow.

Winner of industry awards including ‘Middle Eastern Private Equity Firm of the Year’ from Private Equity International (2005, 2006 & 2007), the Banker Middle East Award for ‘Best Private Equity House’ in 2006 and for ‘Outstanding Contribution to Financial Services’ in 2007 and ‘Best Private Equity House’ at the World Private Equity Awards, MENA in 2007. Arabian Business recognized Abraaj among the 50 Most Admired Companies in the GCC in 2007. Abraaj is also the first pure private equity firm to be registered by the Dubai Financial Services Authority to operate out of the Dubai International Financial Centre.

Apart from managing its five private equity funds, Abraaj Capital Holdings Limited (ACHL) itself is extremely well capitalized, with an issued share capital of US$1 billion. Its 155 professionals come from 28 nationalities and achieve a coverage that spans the MENASA region. For more information please visit www.abraaj.com

About Capital Investment LLC:

Capital Investment LLC is a substantial private institutional investment house based in Abu Dhabi that invests in long-term value opportunities across select emerging and mature markets around the world.  Capital Investment LLC is a subsidiary of Abu Dhabi Capital Group which has strategic interests in financial and real estate sectors.

About Acibadem Healthcare Services: Turkey’s leading healthcare institution, Acibadem operates with over 6,000 employees in 20 different locations through a network of six general hospitals, medical centres, outpatient clinics, an ophthalmology center and laboratories. In addition to its partnerships with Istanbul International Hospital and International Etiler Outpatient Clinic, Acibadem is expanding its services continuously outside of Istanbul with Izmir, Eskişehir and Bodrum Hospitals, and in Istanbul with Maslak and Beşiktaş (Fulya) Hospitals. For further information, please visit www.acibadem.com.tr/English/

For further information about Abraaj Capital, please contact:
James Cordahi / Jessica Karia
Abraaj Capital
Tel: 971-4-3191500
Fax: 971-4-3191600
Email: James.Cordahi@abraaj.com / Jessica.Karia@abraaj.com

Nicholas Nesson / Nitin Nambiar
ASDA’A Public Relations
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com / n.nambiar@asdaa.com