HBG Holdings to expand operations

HBG is a leading private equity investor and fund management business specialized in facilitating the flow of investment capital from Saudi Arabia and the Gulf into private companies with expansion potential in the MENASA region.

"The regional economy has changed dramatically in the last 12 months but we remain confident that the Gulf economies with their immense financial power are in a unique position to capitalize on the new economic realities"

said Zulfi Hydari, Group Managing Director of HBG.

Despite the economic downturn, leaders from around the world are highlighting the increasingly important role the GCC is expected to play in global financial markets in the years ahead.

Hydari added, "Despite the global crisis, the real economy is projected to grow on average by over 4% per annum through 2011 and this should translate into continued opportunity for investment across all sectors in what is a growing consumer market."

HBG, which is in the process of expanding its footprint, believes private equity will witness higher returns in the next cycle and is expected to accelerate its investment plans through 2010.

Peter Beynon, Senior Vice President of HBG Holdings said, "Deal flow is vastly improved compared to a year ago but it will take a little more time for valuations to adjust. We are conservative investors and will wait to use our firepower to buy assets at fair valuations."

HBG is actively looking at hiring senior investment professionals to man its growing network of offices and drive its expansion plans in the region.

"Private equity teams that can demonstrate heritage and experience will continue to attract funding in the coming period. Our approach to current market conditions is to continue adding strategically to our team." said Mr Beynon.

HBG also confirmed it will continue as lead sponsor of the SuperReturn Middle East Summit in 2009. The SuperReturn private equity summit is the largest and most senior private equity event covering the Middle East, North Africa, Turkey and South Asia region.

The flagship event for the region's private equity sector will be held in October in Dubai, United Arab Emirates.