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Wednesday, 14 October 2020

RMBV to launch USD 300 mn MENA fund

INVESTMENT WATCH- RMBV about to hit the road to raise a USD 300 mn fund that will target the Middle East and North Africa, with up to 40% of its investments earmarked for Egypt, RMVB Managing Partner Ahmed Badreldin told Al Mal. The fund will begin courting international institutions in 2021, Badreldin said. The European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, Proparco, the German Investment Corporation (DEG), and the Swiss Investment Fund for Emerging Markets are on the list of potential limited partners, the story suggests. The new fund will invest in food, healthcare, education as well as tech. Badreldin did not specify when the fund expects to launch.

Background: RMBV, which is domiciled in the Netherlands, currently manages funds and has AUM of c. USD 400 mn invested in a current portfolio of 22 companies. RMBV’s six investments in Egypt include the Cleopatra Hospital Group (where Badreldin is now non-executive chairman) and Nahda University.

In other investment news, Nestlé will invest CHF 30 mn (c. USD 32.8 mn) in Egypt through 2022 to expand its local business, Nestlé Egypt CEO Moataz El Hout tells Amwal Al Ghad. The investments will include setting up new Nescafé and Maggi seasoning production lines, El Hout said.

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