Ahmed El Houssieny played a key role in helping transform Citadel Capital into the leading private equity firm in Africa and the Middle East
Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in Africa and the Middle East with US$ 9.5 billion in investments under control, announced today the departure of Managing Director Ahmed El Houssieny.
El Houssieny remains a shareholder in Citadel Capital through his stake in Citadel Capital Partners Ltd., which with 28.23% of the firm’s equity is Citadel Capital’s lead shareholder.
El Houssieny, who joined the firm in 2005, played a key role in helping transform Citadel Capital into the leading private equity firm in Africa and the Middle East. At Citadel Capital, he held responsibility for managing the firm’s relationships with banks and other financial institutions as well as overseeing Citadel Capital investments in the financial services industry, including the Sudanese Egyptian Bank, the investment bank Pharos Holdings, and microfinance provider Tanmeyah.
“It has been very exciting to be part of the team that transformed Citadel Capital into Africa’s largest private equity firm,” said El Houssieny, who had been until his departure a member of the firm’s Board of Directors and Executive Committee. “I am grateful to my partners, friends and colleagues for this fantastic opportunity and look forward to watching the firm evolve in the years ahead.”
Prior to joining Citadel Capital in 2005, El Houssieny was Director of Investment Banking at Barclays Bank Egypt, which he joined from Citigroup, where he had been the vice president leading bank’s North West Africa team. While at Citadel Capital, El Houssieny was named to Financial News’ 2010 “Rising Stars 100” list for Europe, the Middle East and Africa, one of just 10 figures from the EMEA private equity industry to make the list.
“Ahmed El Houssieny played an instrumental role in helping build Citadel Capital into the leading investor the Middle East and Africa’s key infrastructure and resources sectors,” said Citadel Capital Chairman and Founder Ahmed Heikal. “We wish him the very best in all of his future endeavors and will always consider him a dear friend and valued colleague.”
El Houssieny leaves Citadel Capital effective 31 May 2012.
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity firm in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity-Specific Funds. The firm’s 19 OSFs control Platform Companies with investments of US$ 9.0 billion in 15 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, Citadel Capital has generated more than US$ 2.2 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel Capital is the largest private equity firm in Africa by PE assets under management (2006-2011, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.
For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications
Citadel Capital (S.A.E.)
Tel: +20 2 2791-4440
Fax: +20 22 791-4448
Mobile: +20 10 6662-0002