Capital Trust Group said its EuroMena II fund invested $20 million to increase the capital of Sakson Petroleum Services Holding S.A.L., an Egypt-based provider of oil and natural-gas drilling services.
The investment will help fund expansion plans of Sakson Petroleum, which runs projects in the Middle East and Africa including Iraq, Kenya, Tanzania and Somalia, according to an e- mailed statement, citing Romen Mathieu, managing director of EuroMena II.
Capital Trust Group plans to start a EuroMena III fund, which would be the company’s fourth private equity fund in the Middle East and Africa region, with a value of $200 million to $300 million, according to the statement.
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