Foursan Group Announces OPIC Facility of $50 Million
Amman, February 7, 2007: Foursan Group announced today that it will partner with the Overseas Private Investment Corporation (OPIC) to form a $150 million private equity fund focused on Jordan and the region. OPIC will commit $50 million to the new fund. A signing ceremony was held today with Robert Mosbacher, Jr., President and CEO of OPIC, and Nashat Masri, a Partner with Foursan Group.
Foursan is a private equity specialist with a primary focus on the Middle East region. Foursan currently manages the Jordan Fund, a multi-sectoral private equity fund focused on Jordan which it launched with Deutsche Bank. Foursan plans to pursue a similar approach with the new fund, with an emphasis on promising sectors such as education, pharmaceuticals, financial services, aviation and telecommunications.
