Citadel Capital wins Global Investor Award

The announcement was made at a gala event held in London.

This is the first year that Global Investor, the international finance magazine, included the Middle East in its annual awards event.

"It's an honor to be named Global Investor magazine's Middle East Award recipient in the first year the award extended to the region,"

said Citadel Capital Chairman and Founder Ahmed Heikal, whose firm controls platform investments in 14 industries across 12 countries in the Middle East and North Africa (MENA).

"As a leading regional private equity firm, we have several unique competitive advantages, including our unrivaled insights into local markets, but our globally experienced team incorporates broader business ideals, codes of ethics and approaches to corporate governance," he added.

Citadel Capital has raised $4.1bn in equity for investment in the MENA region since it was founded in 2004, making it the largest private equity investor in Africa and the seventy-fifth largest globally. The firm has generated $2.2bn in cash returns to shareholders and co-investors, more than any other private equity firm in the MENA region.

"Our continued ability to raise funds and generate cash returns in this environment is a powerful endorsement of our investment model and the region's readiness for investment. This will be a key differentiator as we continue to invest in what we believe will prove to be a great vintage year for private equity," Heikal said.

Traditional investment in the Middle East and North Africa has focused on oil and gas, minerals and other resource extraction. However, with $11bn to invest after raising a record $6.4bn in 2008, regional private equity firms are taking advantage of attractive valuations and catering to growing demand for investment in areas including health care, transportation and infrastructure.

Citadel Capital was previously named Best Private Equity House in Africa by emeafinance, the emerging Europe, Middle East and Africa finance magazine, and was most recently named MENA Private Equity House of the Year for 2008 by Acquisitions Monthly, the international buy-out publication.