Ahmed Heikal, Chairman of Citadel Capital (S.A.E.)
Published Wednesday, 15 August 2012 15:44 | Written by Amwal Al Ghad
Dr. Ahmed Mohamed Hassanein Heikal is an Egyptian businessman. He was born in 1962. He is the son of the Egyptian eminent journalist, Mohamed Hassanein Heikal. Ahmed Heikal holds a Master’s degree and a PhD in Industrial Engineering and Engineering Management from Stanford University.
His Career Life
Ahmed Heikal is a Co-Founder, Chief Executive Officer, and Chairman of The Board of Citadel Capital (S.A.E.). He is currently employed at Citadel Capital Partners Limited. Prior to that, Dr. Heikal served at EFG-Hermes Holding as the Managing Director of all four divisions private equity, brokerage, investment banking, and asset management. He was the head of asset management from 1994 to 1995, head of securities from 1997 to 1999, head of investment banking from 1996 to 1997 and head of private equity from 1999 to 2001. Dr. Heikal served as the Managing Director (Securities Brokerage) of Horus Private Equity Fund III, Horus Private Equity Fund I, Horus Private Equity Fund and EFG-Hermes Private Equity. From 1999 to 2001, he was the driving force behind the development of EFG-Hermes’ private equity activities in his capacity as Managing Director of Private Equity. Dr. Heikal spearheaded highly successful private equity investments, one of which led to the creation of Egypt’s leading IT company (Raya Holding for Technology and Communication) and another to the nation’s largest natural gas distribution company (Genco). He led key transactions including raising three rounds of finance for leading regional mobile telecommunications operator Orascom Telecom; the IPO of global building materials giant Orascom Construction Industries; the IPO of Orascom Hotels; and the IPO of El-Ezz Steel, as well as the subsequent convertible bond to finance the acquisition of ANSDK. Dr. Heikal served as an Executive Board Member of EFG-Hermes Holding. He served as a Director of Raya Holding for Technology and Communication. Dr. Heikal is credited with developing Egyptian Financial Group Stock Market Index. He studied and wrote about corporate management.
In 2011, the Egyptian prosecutor general issued a travel ban on Ahmed Heikal over the accusations of conspiring to embezzle public funds and profiteering.
In 2010, owner Ahmed Heikal and his brother, Hassan made their first appearances on the Arab world's most wealthy list, charting 48th and 49th respectively, with estimated wealth of $1.7 billion each. They are the sons of Hassanein Heikal, the Nasserist political writer.
About Citadel Capital
Citadel Capital (CCAP.CA on the Egyptian Exchange), is the leading private equity firm in the Middle East and Africa. Citadel Capital’s 19 Opportunity-Specific Funds control Platform Companies with investments of US$ 9.5 billion spanning 15 countries and 15 industries including energy, mining, agrifoods, cement, finance, transportation and retail.
Citadel Capital focuses on opportunities in the Middle East and Africa. In addition to its Cairo headquarters, the Firm has an office in Algiers and opened in 2010 an office in Nairobi, Kenya, as part of its expansion into East Africa with its acquisition of a controlling interest in Rift Valley Railways, the national rail operator of Kenya and Uganda.
Since it began operations in 2004, the Firm has raised and invested equity of more than US$ 4.8 billion, including over US$ 940 million of its own capital. In the same period, Citadel Capital has generated more than US$ 2.2 billion in cash proceeds from five successful exits (three full and two partial) on investments of US$ 650 million, more than any other private equity firm in the region.
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