Abraaj Capital appoints new MD

The Middle East and Northern African private equity house has promoted vice president Shirish Saraf to managing director.

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.

Saraf: new MD at Abraaj Capital

Saraf, who has been vice president at Abraaj since the firm’s inception in 2000, trained with Salomon Brothers and BDO Binder Hamlyn in London between 1989 and 1991. From 1991 to 1994 he worked in ANZ Investment Bank’s capital markets group before joining TAIB Bank in Bahrain where he was responsible for direct equity investment and syndication activity in the Gulf.
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.