About Citadel Capital

Citadel Capital is a private equity firm based in Cairo. Majority controlled by its senior management and employees, Citadel Capital makes control private equity investments in the Middle East and Africa (MEA) and has more than US$ 8.3 billion in investments under control, spanning 18 Platform Companies in 15 industries across 12 countries. Citadel Capital is listed on the Egyptian Exchange (EGX) and trades under the stock symbol CCAP.CA.

While the firm is primarily focused on opportunities in the MEA region, it has a strong interest in proximal African nations. In addition to its Cairo headquarters, the firm has an office in Algiers and is opening offices in South Sudan and Ethiopia. Citadel Capital is also opening an office in Dubai to be closer to its investors.

Since it began operations in 2004, the firm has raised and invested equity of nearly US$ 4.1 billion, including over US$ 735 million of its own capital. In the same period, Citadel Capital has generated more than US$ 2.4 billion in cash proceeds from five successful exits, more than any other private equity firm in the region.

To date, Citadel Capital has raised 18 Opportunity-Specific Funds (OSFs) that control platform investments in industries including energy, cement, specialty real estate, mining, agribusiness, glass manufacturing, transportation, solid waste management and metallurgy. The firm has completed a further 26 bolt-on acquisitions (six of them in 2008). Citadel Capital pursues control investments across the deal-type spectrum, including turnarounds, buyouts, consolidations / industry roll-ups and greenfields.

In addition to founder Ahmed Heikal and co-founder Hisham El-Khazindar, the firm’s leadership team now includes managing directors Karim Sadek, Ahmed El Houssieny, Marwan Elaraby and Ahmed El Shamy. The firm employs 56 professionals, including a 33-strong team of investment professionals. Senior staff are all from the region and enjoy the benefits of having long relationships with key players in the MEA business community.

Citadel Capital’s shareholders and the limited partners in its opportunity-specific funds include leading investors and family offices from Egypt, the Gulf Cooperation Council and Africa.

Citadel Capital generates revenue in three ways: through capital gains on its principal investments; a carried interest over a hard hurdle (currently 12%) on capital gains it makes for limited partners in its OSFs; and through management fees on the equity it has under control, which covers in part the cost of services the firm provides to Platform Companies, such as strategic input, debt financing expertise, project management and the recruitment of senior staff.