WEF Managing Director joins Abraaj Capital

Sicre joins Abraaj from the World Economic Forum (WEF), where he has worked for
16 years and the last six as its managing director, playing a central role in building the Forum's regional activities and global reputation.

Arif Naqvi, CEO and Executive Vice Chairman of Abraaj, said that Sicre's appointment to Abraaj comes at a time when the private equity industry in general and the firm in particular is on a rapid growth path.

"We welcome Frederic Sicre on board at Abraaj. In his role as the Managing Director at the WEF he played a crucial and successful role of bringing together leaders from across the world to talk on pressing issues facing the prosperity of the global community. His focus in the last few years on the Middle East led directly to the initiative of forming the Arab Business Council, which is fast becoming a crucial think tank for business leaders across the region. Abraaj will greatly benefit from Fred's expertise and understanding of our region as we move towards expanding our reach and investments across the Middle East and North Africa (MENA) and the Indian subcontinent," Naqvi said.

Sicre said that his decision to join Abraaj Capital was influenced by the growing role of private equity in shaping the future of business enterprises and economies of the region. He said Abraaj had been a pioneer in institutionalising private equity investments, and added that he felt he would be able to contribute more directly to the region's growth by joining the leading regional private equity player.

"I am delighted to join Abraaj and to be in Dubai, which will be my home from August. My role at Abraaj is an extension of applying what I was talking about at the Forum. I will be now working full-time within this exciting region, and look forward to contributing directly to its growth and prosperity through Abraaj's investment activities," he added.