Abraaj Capital and BMA Capital launch largest ever Pakistan focused USD 300 million Private Equity fund

About Abraaj Capital: A member of the Dubai International Financial Centre, Abraaj Capital is one of the leading asset management firms in the Middle East, North Africa and South Asian region. It has US$ 1.5 billion of assets under management. The firm's primary expertise is in private equity buyouts, strategic minority block positions in public enterprises and real estate investments within the region. As recognition of its operating excellence and regional expertise, Abraaj received the 'Middle Eastern Private Equity Firm of the Year' award from Private Equity International in March 2006. In addition, it has received the 'Best Private Equity House' award from the Banker Middle East in May 2006.
Recently, Abraaj Capital has entered into a joint venture with Deutsche Bank and Ithmaar bank to raise a US $ 2 billion Shari'a compliant 'Infrastructure and Growth Capital Fund' in the region.

The team of professionals at Abraaj (representing over 20 nationalities) has a long history of working together and has been associated with some of the landmark private equity transactions in the Middle East, including Aramex (the first ever tender/buyout of an Arab company listed on the NASDAQ), Inchcape Middle East, Spinneys, Joramco and 25 other companies across the region.

About BMA Capital: BMA Capital is one of the leading investment firms in Pakistan's financial markets. The firm and its group companies provides a wide range of services with a particular focus on capital markets, corporate finance, asset management and retail brokerage, and has been a corporate member of the Karachi Stock Exchange (KSE) since 1992. BMA is one of the leading brokers in the equity, fixed income and inter-bank foreign exchange markets.

In June 2005, BMA Asset Management was licensed to provide Investment Advisory and Asset Management services. The BMA Group has been instrumental in the launch of the BMA Pakistan Opportunities Fund (POF), which is Pakistan's first open end offshore fund, focusing on investment opportunities in listed securities in Pakistan. A wholly-owned subsidiary of BMA Capital, to launch both open-ended and closed-end mutual funds, and has rapidly established a strong presence with pioneering efforts in Asset Management, with Assets under Management crossing the Rs.4 billion mark in record time. In April 2006, BMA Capital's Corporate Finance & Advisory successfully completed the largest privatisation transaction in the history of Pakistan, advising Etisalat on the acquisition of PTCL; the firm has the distinction of successfully advising on over 50% of all privatisations in Pakistan, amounting to nearly US$4 billion. BMA has also won the mandate to lead manage an international GDR offering for OGDC, Pakistan's largest oil and gas exploration and production company, in a consortium consisting of BMA, Goldman Sachs and Citigroup. BMA Trade, the firm's retail brokerage brand, is currently in soft launch and will be opening its first flagship outlets in Karachi and Islamabad in May 2006.

For further information, please contact:
Tim Harrison/ Bakul Gala
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-50-509-7631 / 2459547; Fax: 971-4-3356080

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