RIYADH: Despite difficult market conditions, private equity investments in the Middle East and North Africa reached $5.9 billion across 49 deals in the first half of 2024, according to a new report.
According to the most recent report by PitchBook, deal activity has slowed down compared to 2023, when $15.4 billion was deployed across 159 deals for the entire year. This raises questions about whether activity will pick up in the second half of 2024.
Investment funds known as “private equity” purchase ownership in established businesses, usually through buyouts, with the intention of enhancing performance, restructuring, or growing the business before eventually selling for a profit. The information demonstrates how the “worst market conditions in the past two years” have affected private equity dealmaking in the area. The first half of 2024 is notable for a d
In the past, MENA private equity activity has frequently been propelled by a small number of very large, multibillion-dollar transactions; in order to match 2023’s performance, a similar pattern would need to be seen in the second half of the year.
According to the report, the Public Investment Fund of Saudi Arabia has been the most active investor since 2018, putting money into 36 deals. Decline compared to the previous ten years, when deal values exceeded $10 billion in five years.
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