GEM has also agreed to subscribe to the current common equity offering of KASB Corporation as a symbol to solidify the relationship and participate in the long-term growth opportunities in Pakistan. DESIGN: CREATIVE COMMON
NEW YORK:
The GEM Group and KASB Corporation have teamed up to launch a $200 million private equity fund focused on Pakistan.
GEM has also agreed to subscribe to the current common equity offering of KASB Corporation as a symbol to solidify the relationship and participate in the long-term growth opportunities in Pakistan. The partnership will use the existing network of 105 branches of KASB Bank in 43 cities to source potential transactions, using the local expertise of KASB, while providing the global structuring, execution and monitoring capabilities of GEM.
“Private equity is the growth engine required to take small and medium-size enterprises to the next level, and the Pakistani market represents an excellent opportunity. We are delighted to partner with a global champion like GEM on this initiative, as we reach another milestone under the KASB product umbrella,” explains Muzaffar Bukhari, Managing Director of KASB Corporation.
Published in The Express Tribune, October 19th, 2013.
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