A Turkish Private Equity Web Log

In an effort to cover the Turkish Private Equity Industry - for the promotion of Entrepreneurship, the private equity asset-investment model, and the communication thereof.

Carlyle Group Gets Its Feet Wet In Turkey: Aquires 50% of TVK Shipyard
Yes, I know it has been awhile, and I'm sorry for that. I'll try to feed the most recent stories that have occured this summer.

It seems Can Deldag of Carlyle Group in Turkey has come through with his words last spring. We knew that Carlyle had something in the works that would bear fruit this summer.

At right, you can see (L-R) Walid Musallam, head of Carlyle Middle East and North Africa, Can Deldag, director of Carlyle Turkey and Can Topsakal, TVK board member.

The most relevant stories are from suprisingly the Hurriyet's English division:
Carlyle group acquieres 50 pct of Turkey's TVK
and a somewhat comical TDN report:
Carlyle Group partners with TVK

When interviewed by Reuters, Can Deldag had this to say.
"We can easily complete 2-3 investment projects in the next 18 months. These could be companies operating in health, logistics, transport and non-food retail sectors," Deldag said.

"If we have the opportunity we could invest in other companies, including non-bank financial firms too," he said.

Carlyle, which has assets worth $82.7 billion globally, did not set up a separate fund for its investment in Turkey but has a global fund worth $35 billion to finance such investments.

"We do not plan to get out of our investments in Turkey in 1-2 years. We're looking at it with a longer perspective," Deldag said.

The company planned to prepare TVK for an initial public offering (IPO) by 2010, after capital injection and corporate governance have been put in place, he said, adding that it might invest in other ship building companies.

Deldag saw private equity investments in Turkey rising in the coming years. "Under the current circumstances, there's no reason why Turkey should not attract $3-5 billion private equity investments from 2009 annually," he said.

I know some of you had asked for any pertinant information on Carlyle and their activities in Turkey, but this is the best that can be put together at the moment.

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Posted @ 10:05  
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