Dubai-based Abraaj Capital is pressing ahead with healthcare, education and agribusiness investments in Egypt, unaffected by the restructuring at Dubai World, its Egypt country manager said. The private equity firm, which has about $6.5 billion in funds under management, aims to become a key player in private education in Egypt and to set up a chain of hospitals. Investors in the Gulf region and elsewhere in the world have become more wary of putting money into Middle East markets since the Dubai government asked its creditors last week to accept a delay in repayments from Dubai World. Some analysts have said Egypt, which has emerged from the world financial crisis relatively unscathed, could be a haven. “Our strategy is unchanged - to grow our portfolio companies in Egypt and seek new acquisitions,” executive director Yaser Gamali told Reuters in an interview. Abraaj, which bought 77 percent of Egypt's medical services company Al Borg Laboratory in May 2008, is in talks to buy a second medical laboratory in Egypt to be owned through Borg.
