Egyptian private equity firm Citadel Capital said on Sunday its net loss in the first quarter had widened 43 per cent from a year earlier to $26.4 million.
It said assets under management had risen 4.9 per cent to $4.4 billion in the 12 months to end-March 2012.
"Setting aside the net effect of one-time fees related to Citadel Capital's refinanced debt and the OPIC-backed facility, the firm would have recorded a 9 per cent narrowing of its consolidated loss," the company said in an emailed statement.
The company said that during the quarter it had drawn down $81.3 million from a $150 million facility it had received from United States' Overseas Investment Corporation (OPIC).
Citadel's share was trading 0.3 per cent higher at 12:00 p.m.