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Sovereign Wealth Funds Briefing - Categorized | Market

Morocco fund seeks partners for joint deals

Posted on 02 July 2014

Wessal Capital, the €2.5 billion Moroccan private equity-style vehicle backed by five sovereign-linked investors, is seeking private equity partners for ­co-investments in the country. Tarik Senhaji, chief executive of the Moroccan Fund for Tourism and a board member of Wessal Capital, said that the firm was in talks with US-based private equity firms but would also look for European buyout firms to partner with on investments in Morocco.
The firm, set up in 2010 via a memorandum of understanding, has backing from a club of Gulf Cooperation Council sovereign-linked heavyweights. Abu Dhabi’s sovereign wealth fund Aabar Investments, the Al-Ajial fund of the Kuwait Investment Authority, Qatar Holding and the Saudi Arabian Public Investment Fund each contributed €500 million alongside the Moroccan Fund for Tourism Development………………………………………..Full Article: Source


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