The Carlyle Group has appointed Nader Sultan as senior advisor to the firm’s Middle East and North Africa (MENA) team.
Sultan will help identify investments, business opportunities and trends particularly in the energy sector in the MENA region, according to a statement from Carlyle.
Previously, Sultan was the deputy chairman and chief executive officer of Kuwait Petroleum Corporation, Kuwait’s national oil company. Before that, he held the posts of deputy chairman and managing director of planning in the company. Prior to that, Sultan was a non-executive board member of Global Sante Fe, a drilling company in the US.
Presently, Sultan is a senior partner in F+N Consultancy, which specialises in high-level strategic advice linked to the energy industry. He is also the non-executive chairman of Ikarus Petroleum Holdings and the deputy chairman of Stehwaz Holdings. Both are investment firms based in Kuwait.
Sultan also serves on advisory boards in companies such as Riverstone Holding, AlMadar Finance and Investment, Al-Markaz Energy Fund and Dana Gas.
This March, Carlyle closed Carlyle MENA Partners, its first MENA fund on $500 million. The fund targets investments in sectors such as energy, financial services, healthcare, industrial, infrastructure and technology. In July 2008, the firm acquired a 50 percent stake in TVK Gemi Yapim Sanayi ve Ticaret, a Turkish shipbuilder.
Carlyle’s MENA team is led by Walid Musallam, a managing director at the firm and comprises 12 investment professionals. The team works from offices in Cairo, Dubai and Istanbul.