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OPIC Commits US$ 100 million in Financing to Citadel Capital Funds

Citadel Capital is the sole African private equity firm selected by the US institution following OPICs call for proposals in October 2009, which generated 87 applicants


The Board of Directors of the U.S. Overseas Private Investment Company (OPIC) has approved up to US$ 100 million in financing for new investments by Citadel Capital and its Joint Investment Funds. Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity firm in the Middle East and Africa with US$ 8.3 billion in investments under control.

We are delighted with OPICs decision to commit up to US$ 100 million in financing for new investments by our firm, said Citadel Capital Managing Director and Co-Founder Hisham El-Khazindar, who described OPICs selection of Citadel Capital as another vote of confidence in our firms strategy.

Stephen Murphy, Managing Director of Institutional Relations at Citadel Capital, said that OPICs funds will be invested alongside Citadel Capital and its targeted US$ 500 million MENA and Africa Joint Investment Funds, across selected deals ranging from traditional buyouts to turnarounds, greenfields and growth capital opportunities throughout the Middle East, North Africa, and East Africa.

Sectors of interest to Citadel Capital and its Funds include waste management, transportation and logistics, manufacturing, and alternative energy. We will invest a significant amount of capital in Egyptian companies, which will be used as platform investments to expand throughout the region, Murphy noted.