BRUSSELS, May 19, 2015-

A consortium led by Standard Chartered Private Equity (SCPE), the private equity arm of Standard Chartered Bank, has invested $175 million to acquire a "significant minority stake" in FINE Hygienic Holding, a subsidiary of Jordan's Nuqul Group, according to a statement from Standard Chartered.

A majority of the investment will be used to fund the expansion of FINE's production capacity, SCPE said. According to a spokesperson from Standard Chartered, who declined to disclose the size of the stake, the other consortium partners are "selected Asian sovereign wealth funds and prominent Gulf Cooperation Council (GCC) families."

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