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Monday, 24 August 2020

Private equity investor Ezdehar is looking to raise as much as USD 200 mn from institutional investors

INVESTMENT WATCH- Private equity outfit Ezdehar is looking to raise as much as USD 200 mn from institutional investors to invest in mid-sized enterprises, founding partner Emad Barsoum told the domestic press. The firm expects to reach a first close of about USD 100 mn before the end of this year and is targeting another USD 100 mn in a second close in 2021. The fund will invest in medium-sized companies in Egypt with single-transaction ticket sizes of USD 10-30 mn in sectors including manufacturing, services, education, healthcare, non-banking financial services, Barsoum said.

Potential limited partners in the new fund: The European Bank for Reconstruction and Development, the European Investment Bank, the UK's CDC and the Netherlands’ FMO. Celebrity businessman Naguib Sawiris is also said to be a potential LP; Barsoum has a long track record of working with Sawiris-owned businesses. The press also suggests the International Finance Corporation could be interested in the fund.

Ezdehar Egypt Mid-Cap, launched in 2016, has already drawn down most of its funds and should be fully invested by the end of October. The firm will likely make its final investment in the coming months, Barsoum is quoted as saying; its portfolio is online here.

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