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StanChart Private Equity Spinoff Plans Middle East Investment

  • Singapore-based Affirma has about $700 million for deals
  • Emerging markets firm is also planning to exit an investment
Views of Standard Chartered Ahead of Interim Results
Photographer: Paul Yeung/Bloomberg

Affirma Capital, the private equity spinoff of Standard Chartered Plc, plans to complete at least one acquisition in the Middle East and Africa over the next year.

The Singapore-based emerging markets group is targeting deals between $25 million and $100 million in the region where consumer spending is on the rise, according to Taimoor Labib, Affirma’s founding partner, head of the Middle East & North Africa and chairman of Africa.