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Affirma Capital, the former private equity business of Standard Chartered Bank, expects to double the size of its $3.5 billion of assets under management within the next five years as it looks to invest more in the Middle East, Africa and Asia.
The company, which has $400 million in cash to invest, is actively looking at 15 potential acquisitions within the Middle East and Africa region, Taimoor Labib, founding partner and head of its Middle East and North Africa business, told
The National.
“We should double the AUMs within the next three-to-five years,” he said. “The $3.5bn [in] assets under management includes dry powder, so we have money to do new deals.”
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