Is Iraq ripe for private equity investment? The idea of putting a high performing asset class in what is still considered a war zone seems anathema to many. The lengthy investment terms of private equity appear inconsistent in volatile environments, but after a read of the headlines, industry watchers need only look at the deals fund managers have already made and the willingness of investors who partner in country-dedicated funds, or on a deal-by-deal basis, to realize the possibilities of Iraq as the next destination for private equity. In early 2008, news media reported that emerging markets fund manager Mark Mobius was looking for deals for private equity investments in Iraq. Though influential, Mobius will by no means be the first, but rather follows a crew of daring investors and fund managers who have already established operations in this frontier market. Iraq is not a monolithic conflict and since the
