Private equity firm Abraaj's $990M Africa fund had more demand

The Abraaj Group, an emerging-market private equity investor, had “substantially higher” demand for its third Sub-Saharan Africa fund than the $990 million actually raised, partner Mustafa Abdel-Wadood said.

The demand reflects the “opportunity in the subcontinent specifically, but also our ability to invest in Sub-Saharan Africa,” Abdel-Wadood said by telephone from Dubai on Tuesday. The firm had targeted to raise about $800 million, he said.

Read more: Buyout Firm Abraaj’s $990 Million Africa Fund Had More Demand – Bloomberg Business.