The private equity industry in the Middle East and North Africa (MENA) region continued recovered in 2012, according to a report in the Saudi Gazette, citing data from MENA Private Equity Association released this week.
The mid-market is proving to be attractive for investors, despite a slower pace of fundraising for the region. Total number of investments grew to 91 deals from 84 year on year. Overall fundraising fell to USD 400 million, from USD 900 million the previous year, driven down by smaller fund sizes and global macroeconomic uncertainty, says the report. A sign of optimism is that total value of funds announced in 2012 increased compared to 2011, by USD 200 million.
·Non-cyclical sectors such as oil and gas, healthcare, and education accounted for nearly 60 percent of investments in 2012.
There is about USD 6.4 billion in dry powder available for investment. (Image Source MENA PE Association )