Swicorp launches Iran, Algeria and Sudan fund

The Swiss-headquartered investment firm has already received over $100 million in commitments for the new fund.

Swicorp, a Geneva-headquartered investment banking and private equity firm dedicated to the MENA [Middle East and North Africa] region has launched a new fund focusing on investments in Iran, Algeria and Sudan.

Swicorp Emerge Investment has already received over $100 million (€86 million) in commitments, according to the firm. No target cap for the fund was indicated in a statement and Swicorp was unavailable for comment.

The fund will target investments in the oil & gas, petrochemicals, consumer goods, communications, financial services and infrastructure sectors.

Kamal Lazaar, president and managing director of Swicorp said in the statement: “The launch of Swicorp Emerge Invest…reflects our commitment to the development and growth of private equity in the MENA region.”

Swicorp Emerge Investment is the firm’s second private equity fund to launch this year: in June, Swicorp held a $60 million first close of its Intaj Capital fund and announced its intention to reach a hard cap of $200 million in 2006.

In 2003, Swicorp launched its first private equity fund, MENA Water Ventures, which focused on making equity investments in the packaged water sector across the MENA region.