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Wednesday, 20 March 2019

US-based PE outfits TPG, Carlyle Group eyeing investments in Egypt

US-based private equity outfits TPG and Carlyle Group are looking at investments in Egypt amid the void left by the collapse of Abraaj, according to Al Mal. TPG, with more than USD 103 bn in AUM, is currently looking at a possible acquisition of a stake in a hospital owned by Lebanon’s Euro MENA Fund and us in talks on several other potential transactions. The PE outfit plans to close its inaugural transaction in Egypt before the year is out, according to sources close to the matter.

Carlyle is also keen on entering the Egyptian market, but has yet to find the right transaction. The private equity heavyweight previously attempted to acquire cheesemaker Greenland, a subsidiary of Americana Group, but was ultimately edged out by Lactalis-Halawa. Carlyle has previously expressed its interest in investing through its USD 700 mn Africa fund in Egypt. Managing Director Eric Kump said at the time that the MENA region has “gone through a painful dislocation and done the right things on the macro level.”

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