The MENA Private Equity Association has released its 2012 annual report highlighting the outlook of the private equity industry in the region. According to the report, the sector continued to show signs of recovery in 2012 with investments and exits both registering significant growth. The report also revealed that small and medium enterprises (SMEs) and high growth technology and media companies were one of the most active areas in the industry. On the other hand, private equity had suffered from persistent uncertainty in Europe and depressed fundraising environment in 2012. MENA managers focused in 2012 on enhancing value and exit opportunities for their current portfolios. The report concludes that while private equity activity in some countries remains depressed due to uncertainty, investment in these countries is expected to return to historical levels in the short to medium term.