Quilvest & Partners, a global private equity investor, has raised over $125 million for its upcoming private equity investment in the Middle East this year, which will be its inaugural investment in the region.

The firm will form a new group chaired by CEO Fady Michel Abouchalache, said a statement.

This Middle East group is expected to become a $1 billion sales company with more than 300 points of sale over 10 years, it said.

Globally, the firm has raised $1.3 billion last year, surpassing a $500 million target by 150 per cent.

The record was partly driven by three new mandates, of which two are with leading global sovereign wealth and pension funds, said the statement.

The investor’s assets under management stood above $5 billion, with all of its companies and investments oversubscribed and eight portfolio companies fully or partially realised.

“2013 was a stellar fundraising year for Quilvest & Partners. This is a tribute to our esteemed investors and our value proposition. Such mandates allow us to increase our annual dry powder while staying true to our investment strategy of focusing on the small and mid-cap space,” said Abouchalache.

“Among our diverse investor base, the Middle East is fast growing in terms of capital raisings as local investors become more sophisticated and develop an increasingly global perspective. Consequently, the Middle East itself offers real opportunities for private equity, with the region’s favourable macro fundamentals,” he said.

Across its global private equity investment platform, the firm committed more than $700 million with a roughly 50/50 split between new direct and indirect investments.

The firm’s funds platforms - QS PEP Core, QS GEO 2 and QS REP 2 – were also active, committing over $350 million to 30 managers globally.

“As a global private equity player, the Middle East is a priority for us and we are deeply committed to the region and our investors. We have been very active for a number of years, and we look forward to further building our business in the region,” added Abouchalache. - TradeArabia News Service