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Egypt's Citadel Capital says standalone Q2 net loss at $4.2 million

Reuters, Monday 24 Oct 2011

Private equity firm claims figures do not include some $210 million in funds it raised for platform and portfolio companies

Egyptian private equity firm Citadel Capital reported on Monday a standalone second quarter net loss of US$4.2 million compared to a net profit of $0.05 million in the same quarter a year ago.

The company said it maintained a stable base of total assets under management of $4.1 billion quarter-on-quarter.

The figures for the period do not include $210.5 million in equity and debt fundraising for platform and portfolio companies, the company said in a statement.

Citadel completed a $176 million capital increase earlier in October and has said it would use the proceeds to support existing companies. 

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