Deals

Farrukh Abbas to head up Abraaj Pakistan

The UAE-based buyout group has appointed industrialist Farrukh Abbas to head the firm’s developing Pakistan operations. Abbas will be charged with managing Abraaj’s three portfolio investments in the fast-growing economy as well as sourcing new opportunities.

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Middle Eastern buyout firm Abraaj Capital has appointed Farrukh Abbas as chief executive of its newly established Pakistan office.
 
Abbas will lead a six-person investment team in Karachi.

Farrukh Abbas

 
Prior to joining Abraaj in 2005, he was general manager of Coca-Cola's Malaysia operations and also worked at consumer giant Unilever.
 
“With Pakistan’s economy set to continue growing at 6 percent per year, we can act as a very important conduit of fresh capital into the country,” Abbas said in a statement.
 
Abraaj has invested almost $200 million (€136 million) in Pakistan since 2004. Its Pakistani investments include refinery company Bosicor Group, steelmaker MS Forgings and Karachi-based investment bank BMA Capital.