Abu Dhabi Investment Firm Seeks Funding

Abu Dhabi based Invest AD is looking to raise finances for its second private equity fund. The fund will invest in the Middle East and North Africa (MENA) region. Invest AD’s MENA fund has a corpus of $400 million.

The investment firm is now seeking to raise $325 million from third-party investors. The firm has already received $75 million as seed capital from the Abu Dhabi government. The PE fund is expected to achieve a net internal rate of 25% or more.

AD’s head of private equity, Samir Assaad, said, “We started the fund-raising process last week and had very good interest from Asia.” Invest AD is owned by Abu Dhabi Investment Council. It was formerly known as Abu Dhabi Investment Company.