Sabre Abraaj acquires stake in Ramky

Dubai, Jan 27: Sabre Abraaj India Private Equity Fund 1, a 300-million-dollar investment vehicle launched by the Bahrain-based financial conglomerate, has made its first investment in India by taking a strategic stake in Ramky Infrastructure Ltd.

The fund, a joint venture between Abraaj Capital and Manama-based Sabre Capital, is taking a strategic stake in Ramky, a rapidly growing infrastructure construction and development firm based in Hyderabad.

In addition, it seeks to take majority or strategic minority stakes in both listed and unlisted Indian companies.

Ramky has a growing contracting business in the construction of roads, highways, industrial buildings, housing, irrigation canals, water supply and drainage systems.

Vice Chairman and CEO of Abraaj Capital and Chairman of Sabre Abraaj Investment Committee Arif Naqvi said it sees nations of the West Asia, North Africa and South Asia as a single region linked by the promise of growth and opportunity.

UNI