'Local equity firms will lead'
DUBAI// Local private equity firms will take the lead in the Middle East and North Africa as the industry's business model is forced to change due to the global financial crisis, says David Rubenstein, the managing director of The Carlyle Group.
Private equity groups will take more minority stakes in companies as they face up to the shortage of bank debt available to finance full takeovers, according to the head of one of Europe's biggest buy-out groups.