Gulf Capital Equity Fund Associates, an Abu Dhabi-based private equity fund manager, has selected J.P. Morgans Worldwide Securities Services (WSS) to provide private equity fund administration services to the GC Equity Partners Fund II. The late stage fund, which invests only in established businesses rather than start-ups, has in excess of $500 million of committed capital.
Gulf Capital, whose investors are focused primarily on the GCC region, focuses primarily on late-stage control buy-outs, growth capital, real estate development and credit business. GC Equity Partners Fund II derives the majority of its investors from international markets including the USA, Europe and Asia. Investors in the fund include some of the largest global and regional sovereign wealth funds, pension funds, endowments, banks and insurance companies.
Muhannad Qubbaj, head of Business Development, Private Equity, at Gulf Capital, said: This fund puts us at the forefront of private equity investing with one of the largest private equity funds raised in the region. J.P. Morgan is a leading international private equity administrator and has the scale of service and industry knowledge necessary to help us create maximum value and transparency for our large client base.
Timothy Peters, general manager of J.P. Morgans Abu Dhabi Office and head of WSS MENA commented: The challenges around private equity administration are set to increase in complexity driven by new regulation facing the industry. Through a combination of our regional MENA office network and the award winning private equity administration team, we look forward to assisting asset managers and investors in this growth area of investment.
J.P. Morgan has been doing business on the ground in the Middle East for the last 50 years.
(JDC)