While Turkey is a relatively young market for PE, it is starting to generate some exit activity for PE funds. According to Dealbook, Abraaj Capital recently sold its stake in the Turkish hospital chain Acibadem Saglik Hizmetleri & Ticaret for about USD1 billion to Integrated Healthcare, and last year TPG Capital sold Mey Icki Sanayi, a Turkish beverage company, to Diageo for USD2.1 billion. The deal was Turkey’s biggest private equity sale on record, according to Dealmbook.
Privcap, a media company that covers special topics in PE, has a panel discussion video about private equity exits in Turkey. The panel said that further exits in 2012 are in the works, with the largest expected to be Migros, backed by BC Partners and Turkven. Carlyle is also expected to exit its investment in a Turkish medical company.