I nvest AD, the Abu Dhabi state-owned investment group has announced the virgin investment of its new fund, Invest AD Private Equity Partners II. The fund will invest € 50 million in Turkish logistics company Ekol Lojistik A.S. (EKOL). The investment translates into a significant minority share for Invest AD and was structured as a capital increase.
EKOL plans to use the cash infusion to fund future expansion and growth plans. The deal must still gain regulatory approval before it can be completed.
Ekol Lojistik A.S. (www.ekol.com)
EKOL is a warehousing and logistics firm based in Istanbul, with Western and Central Europe as its primary markets. The company provides integrated logistics services, trade consulting, warehousing and transportation.
EKOL’s 2,000 employees work from 16 facilities in Turkey and a cross-dock facility in Germany, serving more than 1,500 active customers through a fleet of 1,100 vehicles.
The company plans to expand into Southern and Eastern Europe as well as the Middle East.
InvestAD (www.investad.ae)
InvestAD began in 1997 as the state-owned Abu Dhabi Investment Company with the original mandate of investing on behalf of the government. The firm’s mission expanded to include management of third party funds in 2007, thus the new name, InvestAD, was adopted in 2009.
In addition to managing its own funds, the company works with institutional investors in managing their assets and opportunities in African and Middle Eastern markets.
The Invest AD Private Equity Partners II fund, one of several new funds, has a target size of USD 400 million.
