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Carlyle Group to invest in Middle East, North Africa

Washington Business Journal

by Neil AdlerStaff Reporter

 
The Carlyle Group has formed a team to conduct private equity investments in the Middle East and North Africa.

The D.C.-based private equity firm has hired Walid Musallam, former CEO of the Abu Dhabi Investment, to lead the new team as managing director.

From offices in Cairo, Egypt; Dubai, United Arab Emirates; and Istanbul, Turkey, Carlyle will invest in a variety of sectors, including energy, financial services, health care, industrial, technology and transportation.

"Carlyle's global network and industry expertise are great differentiators that will benefit growing Middle Eastern and North African companies," Musallam says.

Before serving as CEO for Abu Dhabi Investment, was CEO of Middle East Capital Group, a merchant bank based in Beirut, Lebanon. He also was founder and CEO of D.C.-based Infrastructure Finance
 
Group, which advised corporations on financings, acquisitions and partnerships and also counseled governments on restructuring and privatizing state-owned facilities.

Musallam served as senior investment officer at the International Finance Corp. in D.C. and a vice president at Lehman Bros. in New York. He has managed several construction projects in the Middle East.

David Rubenstein, Carlyle's co-founder and a managing director, says Musallam's experience will "quickly establish Carlyle as a serious and credible presence in this important, growing region of the world."

 

Washington Business Journal

 

 

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