Former Carlyle managing director joins EBRD

Hassan El Khatib, who joined Carlyle in 2007 to bolster the firm’s MENA operations, later worked as an operating executive for Carlyle’s $500m MENA fund.

Hassan El Khatib, former managing director in The Carlyle Group’s Cairo office, has joined the European Bank for Reconstruction and Development.

El Khatib has worked in EBRD’s London office since August as director of industry, commerce and agribusiness for the southern and eastern Mediterranean region. He joined Carlyle in 2007 to bolster the firm’s team that is focused on the Middle East and North Africa, but later switched to the role of operating executive advising on investment opportunities in North Africa. Carlyle closed its Cairo office last year in response to the political turmoil in Egypt, re-locating personnel to its Dubai operation.

Prior to joining Carlyle, El Khatib was a managing partner at EFG-Hermes Private Equity, a Middle Eastern investment bank with operations in Egypt, where he managed and raised a number of generalist and sector focused funds targeting Egypt, Jordan and Turkey. He was previously a partner at Egyptian private equity firm Commercial International Investment Company.

Carlyle MENA Partners’ $500 million fund has made multiple investments in both Turkey and Dubai. The firm’s MENA operations are led by Can Deldag in Istanbul and Firas Nasir in Dubai, who took over for former MENA head Walid Musallam following his departure in February.

The EBRD is an international financial institution owned by 63 countries, the European Union and the European Investment Bank, and manages the largest fund of funds focused on Central and Eastern Europe, Russia and Central Asia, according to its website. The EBRD began investing in private equity funds in 1992 and also makes co-investments along with their general partners. The bank invests between €5 million and €60 million per fund and between €250 million and €500 million in private equity per year.