North Africa started in 2008 as the least-noticed market in the region, but it has emerged to become a new investment destination for private equity firms. While most region specific funds use some form of the monicker ‘Middle East and North Africa’, the later half was almost forgotten until this year, when North Africa came to mean more than just Egypt and more than occasionally big buyout deals. The growing popularity is derived from the diverse industries and opportunities waiting to be tapped in the Maghreb and Libya, as they emerge from their economic infancy in 2009 with potential for growth as destinations for regional and international private equity. Private equity firms did not have dedicated operations in the Maghreb until the late 1990s. Capital Invest, based and doing deals in Morocco, launched their operations in 2000 after significant regulatory changes induced the firm to structure a fund for investors
