Abraaj Capital, the Middle East’s biggest private equity firm with about $7bn in assets, said it made “very significant” returns from the sale of its 50 percent stake in Turkey’s largest hospital chain. Khazanah Nasional Bhd., Malaysia’s state investment company, bought a 75 percent stake in Turkey’s Acibadem Saglik Yatirimlari and affiliated companies from Dubai-based Abraaj and Turkey’s Aydinlar family. The sale valued Acibadem Holding at about $1.68bn for its entire Class A and Class B share capital, the companies said in December. The transaction was completed last week. “We’ve made very significant returns,” Mustafa Abdel Wadood, chief executive officer of Abraaj Capital, said in an interview at the World Economic Forum in Davos, Switzerland. Abraaj’s 2007 investment in the company “was probably at the highest point in the cycle and the world then went into a deep financial crisis, but the business has grown.” Since Abraaj’s investment, Acibadem expanded its hospital network from six to 14, and raised its bed capacity to 1,850 from 750, Abraaj said in a statement January 24. Earnings before interest, taxation, depreciation and amortisation grew “by three to four times,” Abdel Wadood said. Founded in 2002, Abraaj has raised more than $7bn and has distributed about $3bn to investors. Abraaj’s funds have holdings in more than 35 companies, including Air Arabia, the Middle East’s biggest low-cost airline.