BMB Group today announces its investment in EMP Global (EMP), one of the world's largest private equity houses dedicated to emerging markets. The acquisition will bring EMP Global, headquartered in Washington into the BMB Group as its emerging market direct investment arm. The combined group will represent one of the world's leading alternative asset management houses, with assets in excess of US $12 billion. 

EMP was founded in 1992, and was one of the first major private equity houses specialising in emerging markets. The partnership has raised some US $7billion of private equity funds, and has offices across the globe including Washington, Hong Kong and Bahrain. Reflecting this cross market expertise, EMP has launched major funds in Asia, South America, the Middle East, and Emerging Europe. In doing so it has partnered with a series of major institutional investors including GE and the Islamic Development Bank. 

EMP staff will be taking up key positions within the BMB Group. The distinguished EMP partner Moeen Qureshi, the former Prime Minister of Pakistan and Chief Operating Officer of the World Bank is today appointed Vice Chairman of the BMB Group. He will act as a senior advisor to BMB Group's global strategy, and the development of its sovereign wealth focus. EMP's partner Don Roth, the former head of Merrill Lynch Europe, and Treasurer of The World Bank, is today appointed Head of Principal Investments for the BMB Group. 

EMP's US operation will continue to run independently, managing existing private equity funds for corporations and governments. The offshore business of EMP will become BMB Emerging Markets which will launch a powerful slate of direct investment funds around the world focused on energy, infrastructure and financial services. BMB Emerging Markets will be adding high calibre managers with investment expertise in future areas of growth, and opening new offices in emerging markets in conjunction with BMB Group's global strategy.

Commenting on this move, Rayo Withanage, Chairman of BMB Group said:

"This transaction is in line with BMB Group's stated strategy of acquiring industry leading investment companies and management teams. We see this time as an unprecedented opportunity for Eastern financial services players to capture global market positions."

Don Roth, Head of Principal Investments BMB Group commented

"Our new business will be a global one that assists in the flows of new capital in a changing world, matching Eastern values with Western governance and experience."