Dubai-based private equity firm Abraaj Capital has appointed Shirish Saraf as managing director with immediate effect.
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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.
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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.
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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.
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Abraaj currently has over $1 billion of assets under management.