Joint Japanese-Gulf investment in Turkey announced

Spurred by high investor interest and confidence in Turkey, Japan's SBI Holdings yesterday announced it would invest in a new joint private equity fund with Invest AD, a financial services giant from Abu Dhabi. The fund, worth $100 million, will focus on acquiring companies in Turkey, SBI said. "The fund will be jointly managed, from an office in Istanbul, and will supply growth capital and employ its international networks and expertise to help promising companies to improve economies of scale, grow market share and expand overseas," an SBI statement said. "We're developing a strong long-term interest in Turkey, a strategically important country in the region, which has seen robust economic growth in the last 10 years," said Nazem Fawwaz Al Kudsi, the CEO of Invest AD. "Our partnership with SBI is testament to the high level of investor interest and confidence in Turkey."