The Abraaj Group has held a final close on its first fund dedicated solely to Turkish investments. Launched in October 2014, Abraaj Turkey Fund I raised $526 million, surpassing its $500 million target – $486 million as part of the parent fund and a further $40 million in co-investments.
New and existing investors committed to this vehicle, 78 percent of which were either institutional investors or sovereign wealth funds. The vast majority of the capital – 70 percent – originated from North American and European investors. European Bank for Reconstruction and Development, the European Investment Fund and the IFC are all known LPs.