Private equity in the Middle East: a rising contender in emerging markets

The private equity (PE) industry in the Middle East (ME) has grown remarkably quickly for an industry that barely existed a decade ago. Today, there are around 150 funds in the region, with a further 12 announced and six rumoured to be happening. In 2008, total funds raised increased to more than $6.4bn. However, PE as an asset class in the Middle East is relatively new and, on a global scale, still very small. In 2001, its share of emerging market PE was less than two per cent. By 2008, however, it accounted for ten per cent.