
Abraaj looks for companies that generate growth far beyond their initial return. The ability to scale means looking for Facebook-like reach but in sectors like healthcare and education. “Great businesses are fundamentally addressing societal challenges,” says Naqvi.
Naqvi doesn’t use the term “emerging markets.” He calls them “growth markets,” because two-thirds of growth and the majority of consumer spending over the next fifteen years will happen in Latin America, sub-Saharan African, South Asia and other, uh, emerging markets. That shifts not only the perception of risk, but of time horizons.