Gulf Capital, one of the most active and diversified alternative asset managers in the Gulf region, today announced the successful final closing of its third private equity fund, GC Equity Partners Fund III (Fund III), at US$750 million (AED 2.76 billion).

The new control-oriented growth buy-out fund, focused primarily on the GCC, is the largest raised by Gulf Capital to date and the largest private equity fund raising effort in the Middle East over the last three years. The investors in GC Equity Partners Fund III include a significant number of regional and international limited partners, comprising of Sovereign Wealth Funds, Pension Funds, Endowments, Funds of Funds, insurance companies, family offices and other institutional clients. Close to 60 percent of external investors are from the US, Europe and the Far East, highlighting the appeal of the GCC region to global investors. Fund III is a successor to the highly successful US$533 million (AED1.962 billion) GC Equity Partners Fund II that closed in early 2010 and that ranks amongst the top decile performers globally when compared to emerging markets private equity peers.

Launched less than a year ago with a target of US$ 550 million (AED 2.024 billion), Fund III had a first closing in January 2014 and was significantly oversubscribed above its hard-cap of AED 2.76 billion (US$750 million) in October, 2014. 

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