Growth equity firm General Atlantic is set to form a new independent investment manager based in Abu Dhabi along with Abu Dhabi's wealth fund ADQ and International Holding Co. (IHC).
In addition to being a strategic partner, General Atlantic will be the anchor investor. The new entity aims to invest in private equity, venture capital, and private credit equities in the MENA region.
- Initially,
the fund will receive funding from the three founding shareholders to
invest in startups and other funds and will raise capital from external
investors in the future.
- The new entity will manage the current portfolio assets of the three entities.
- At launch, the new fund manager will have an office in Abu Dhabi and plans to expand into North America, Europe, and Asia.
- New York-based General Atlantic has invested nearly $400M of its own capital into the Middle East since 2015.
- Notable
investments include online real estate marketplace platform Property
Finder and credit card processing startup Network International.
