Jenny Blinch

For MENA-based private equity funds, fundraising is no picnic, writes Jenny Blinch.

Dubai International Capital and Dubai Group have been placed into the same holding company, while the debt-laden emirate has also combined back office functions for its three real estate entities.

The UK government-backed fund of funds has taken on ex-Unilever executive Shonaid Jemmett-Page in the new role.

The Italian bank and the Libyan Investment Authority will reportedly establish a private equity fund of up to $500m to invest in distressed Italian companies.

The commitment is the UK firm’s first in Asia since opening an office last month in Hong Kong.

Sylvain Denis and Alan Hyslop are to leave Dubai International Capital, leaving the firm’s private equity business in the care of portfolio managers David Smoot and Eric Kump.

China’s biggest investment bank and the government-owned asset management firm are reportedly establishing a private equity firm to manage up to RMB 20bn.

The commitment to Kotak India Private Equity Fund follows a $40m allocation to SME-focused funds in Southeast and Central Asia.

Abu Dhabi Investment Company’s private equity chief left the firm on Sunday to pursue ‘other opportunities’. Serkan Kizil will act as interim head of private equity.

The UK firm is putting a team in place in Asia with the primary aim of helping its existing portfolio access Asian markets.