Foursan Group Announces Launch of Foursan Capital Partners

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First Close of US$100 Million in Commitments, Expected Final Close of US$200 Million

Anchor Investors include OPIC, IFC, Jordan’s Social Security and Olayan Group

Foursan Group, a leading Middle Eastern private equity specialist, announced today the launch of its second fund, Foursan Capital Partners I (“FCP”), a multi-country, multi-sector private equity fund targeting investments in accelerated growth companies in Jordan and surrounding countries in the Levant and North Africa. FCP will have a first closing on January 1, 2010 with commitments of US$100 million and is targeting a final closing of US$200 million in 2010.

FCP has received commitments from leading regional and international institutions such as the US Overseas Private Investment Corporation (“OPIC”), the International Finance Corporation, the private sector arm of the World Bank Group (“IFC”), Jordan’s Social Security Corporation and Olayan Group. Key investors today signed a series of agreements formalizing their commitments to FCP.

“We are launching this fund at an opportune time, when capital for companies is scarce and valuations are appealing for investors. As a result, we expect to achieve highly attractive returns for our investors,” said Nashat T. Masri, a Partner with Foursan Group. “The launch of FCP is an important vote of confidence for Jordan and surrounding countries as strong private equity investment destinations,” added Mr. Masri.

The fund will invest in private companies in a range of attractive sectors including financial services, food and beverage, education, aviation, pharmaceuticals and healthcare. FCP will focus on medium-sized companies with strong growth prospects and will take significant stakes in these companies, as well as implementing strategic and operational enhacements at its portfolio companies.

Among its strategies, FCP will seek to re-assess and drive strategic decision-making, enhance management, restructure the capital structure, improve operations, focus on business development - in particular regional growth - and improve management information systems and financial reporting. In addition, FCP will put into practice within its portfolio companies strong corporate governance standards.

H.E. Faris Sharaf, Chairman and CEO of Jordan’s Social Security Investment Unit, stated: “We are investing in this new fund to diversify our investment portfolio and to extend our ability to deploy capital through strong and experienced third party managers. As leading investors in FCP, we will work closely with Foursan to source new investments and pursue co-investment opportunities.”

James Hansley, a Director in the Investment Funds Department at OPIC, welcomed the launching of FCP, and noted that “OPIC has supported the establishment of FCP with a US$50 million facility, and we are particularly keen to see significant activity for this fund in Jordan. We are impressed with the Foursan team, its track record and its vision for this new fund.”

Dr. Ahmed Attiga, IFC’s Resident Representative and Country Manager in Jordan and Iraq, noted with respect to the IFC’s investment in FCP that “IFC has a strong commitment to this region. Through managers such as Foursan, we seek strong-performing funds, while also championing strong corporate governance and social, environmental and other standards in portfolio companies. These standards help improve investment returns as well as the overall investment environment across the region.”