Private equity firm EQT launches Middle East platform and opens Abu Dhabi office

By Federico Maccioni

ABU DHABI, Sept 23 (Reuters) - Swedish private equity firm EQT is launching a Middle East platform, it said on Wednesday as it opened an office in Abu Dhabi, establishing an on-the-ground presence in the Gulf and joining a slew of firms that have expanded in the region in recent years.  

• The platform will deepen support for EQT's existing portfolio companies, build on its institutional relationships in the region and pursue new investment opportunities, a company statement said.

• Jimmy Mahtani, who was appointed chairman of the company's Gulf operations, leads the platform. He told Reuters the firm could look at deals from $15 million up to $1 billion depending on the opportunity.

• The office currently hosts a 10-person team spanning private capital and infrastructure investment alongside capital raising and business operations.

• The firm could invest in sectors such as healthcare, education, business services and infrastructure, including digital infrastructure and utilities, said Middle East head Smiyet Belrhiti, who also leads the office.

• EQT has $389 billion in assets under management. Its portfolio companies with an active presence in the Gulf region include Nord Anglia Education.

• Global investment firms have increased their Gulf presence, lured by proximity to some of the world's largest wealth funds and a growing deals pipeline.

(Reporting by Federico MaccioniEditing by Jamie Freed and David Goodman)