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Abraaj appoints Mustafa Abdul Wadood

Abraaj Capital has hired former investment banker Mustafa Abdel Wadood as managing director after also promoting Shirish Saraf to managing director in April.

Dubai-based private equity firm Abraaj Capital has appointed a former investment banker to be a managing director. The latest appointment comes hard on the heels of Shirish Saraf’s promotion to managing director three months ago.

Mustafa Abdel-Wadood comes to Abraaj from Egyptian investment bank EFG Hermes in the United Arab Emirates, where he was chief executive and before that managing director of investment banking at EFG Hermes Egypt.

At EFG Hermes, Abdel-Wadood was associated with several transactions that included the public listing of Vodafone Egypt and CDC Globeleq’s acquisition of Sidi Krier power plants. Globeleq is the operating power company of UK’s emerging market private equity manager, CDC Group.

Before Abdel-WAdood joined EFS Hermes, he spent 8 years at Egyptian conglomerate Orascom Group where he was director of business development and investment.

Abraaj CEO Arif Naqvi says of his new hire: “Mustafa has remarkable credentials and is a well-recognised name in the investment banking and corporate community of the Arab World. In addition to his management expertise, he has been involved in numerous landmark transactions across different sectors.”

Abraaj manages $1.5 billion (€1.17 billion) worth of assets. The firm recently partnered a portfolio company in Pakistan, BMA Capital, to launch a $300 million buyout fund.