NBD Sana Capital, a division of Middle Eastern bank Emirates NBD, has held a $170 million first close on its buyout fund. The firm intends to raise $250 million in 2009 and eventually, $500 million, according to Suresh Kumar, group director at Emirates NBD.
Focused on the Middle East, North Africa, Turkey and South Asia, the fund will target sectors such as telecommunications, media and technology, energy and resources, healthcare and life sciences, and consumer and retail.
