Dubai-based private equity firm Abraaj Capital has appointed Shirish Saraf as managing director with immediate effect.
According to Abraaj, Saraf has over 17 years’ international experience in asset management and investment banking and has been involved in several regional and international mergers and acquisitions.
In 1998, Saraf founded Oriel Investment Company, a corporate finance outfit, in Bahrain. He has also previously served as a director of Aramex Holdings and of the Commercial Bank of Oman, Al Ahlia Capital Markets, TAIB Venture Capital and Memo Express.
Saraf’s appointment follows a busy few months for Abraaj. Last December, the firm closed its second buyout fund, ABOF II, on $500 million (€405 million). Last month, Abraaj formed a joint venture with Indian private equity firm Sabre Capital to raise a $250 million fund aimed at investment opportunities in India.
Abraaj currently has over $1 billion of assets under management.