July 19, 2024

Olive Rock Partners got an anchor investor in form of Abu Dhabi Catalyst Partners to boost up their operations

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Founded by the prior Gulf Capital Partners, the Abu Dhabi Global Market-backed private equity fund is keeping fast track with its pace in the modern digital investment world.

The private based equity firm Olive Rock Partners positioned out at Abu Dhabi Global Market, the Olive Rock Partners have got huge boost up in form of secured investment from Abu Dhabi Catalyst Partners.

Although the overall investment size cannot yet be revealed, the ADCP, joint alliance between sovereign investor Mubadala Investment Company as well as the Falcon Edge Capital, is becoming an anchor investor in Olive Rock Partners’ debut fund.

The firm Olive Rock, was Co-founded by the preceding Gulf Capital Partners founders Muhannad Qubbaj and Abdullah Shahin the preceding year and is in the progression of venturing its debut fund. It is aiming a $350 million fundraise but could upsurge the size, dependent on demand. It assumes to cease the fund by the initial quarter of next year.

Mr Qubbaj stated that: “Today, we think there is a tremendous need for alternative capital here in the region and we feel that going forward company owners will understand the benefit of bringing on board smart third-party capital.”

“Going forward, there’s a lot of prospect to progress the market from a substitute investing standpoint.”

He also further added that: “The private equity market in the territory was still a progressive asset class over the preceding decade and a half, but is becoming more mature as more banks, fund managers and specialist law practices aid the sector, he said. An upsurging diversification away from oil profits by governments and a preparedness to sustenance of the private investments in the territory “have powered to the prospect that we are in for today.”

As according to Bain and Company’s 2021’s Global Private Equity Market Report, it added that the private equity market relished another astounding year in 2020. Although COVID-19 boundaries meant activity ground to a standstill in the second quarter, deals and exit worth rebounded during the second half and ended at 8 percent advance than in 2019. Of the $592 billion of buy-out deals completed last year, $410bn was in the second half of the year.

The report further added that: “With [a] high level of dry powder and robust credit markets, 2021 deal markets promise to be incredibly busy as investors seek to make up for lost time. Looking at January 2021 data, deal value is 184 per cent higher than the averages seen for that given month in the past five years.”

The Chief Operating Officer at Abu Dhabi Catalyst Partners, James Munce stated that: “Abu Dhabi Catalyst Partners is excited to be collaborating with Olive Rock Partners to grow their business in the ADGM.”

“Olive Rock Partners is a natively expertise focused investment manager, offering its depth of skill to the ADGM ecosystem. We are self-confident that Olive Rock Partner’s existence in the ADGM will be provision for the progression of the substitute asset management industry in the territory.”

Although, the amount of funds raised up by the industry had plummeted to $989bn from 2019’s record of $1.09 trillion, but it remained as still the third-highest on as per the record.



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