Citadel's Q3 income rises

30 November 2010

Egyptian private equity firm Citadel Capital has reported $3.2m in Q3 net income on revenues of $7.7m on a standalone basis, up from net earnings of $0.05m in Q2 2010. Citadel also recorded a 7.1% rise in total assets under management to $4bn as it recognized $265.4m in new equity raised year-to-date. Third-party fee-earning AUM rose 6.0% to $2bn in the same period. The $265.4m in new AUM includes $140m for the MENA and Africa Joint Investment Funds (JIFs) and $100m in financing from the US Overseas Private Investment Corp (OPIC), Citadel said.

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