Back to the complete issue
Sunday, 4 July 2021

Private equity sees busiest six months on record, sealing USD 500 bn of agreements

PE breaks records in 1H2021: Private equity firms have sealed more than USD 500 bn worth of agreements in the first six months of 2021, making it the busiest six-month period on record for the industry, the Financial Times reports. Almost 6.3k buyouts worth USD 513 bn have been signed since January, while overall corporate transactions have hit a record USD 1.5 tn in 2Q2021 alone, according to Refinitiv data. “The level of deal activity is truly extraordinary, and beyond any of our expectations [last year],” said a Credit Suisse official.

In other financial news worth noting this morning:

  • Kuwait Investment Authority a top 3 SWF? The KIA’s Future Generations Fund, has hit a record of some USD 700 bn, likely making it one of the three biggest sovereign wealth funds in the world. (Bloomberg)
  • EFG getting involved in the SPAC game: FIM Partners — a Dubai-based EM asset manager backed by EFG Hermes — is looking to raise USD 200 mn when it lists its Frontier Investment Corp blank-check company on the Nasdaq this week. The company is looking to acquire a tech company from the Middle East, south Asia or south-east Asia. (FT)

Up

EGX30

10,257

+1.3% (YTD: -5.4%)

Down

USD (CBE)

Buy 15.63

Sell 15.73

Down

USD at CIB

Buy 15.63

Sell 15.73

None

Interest rates CBE

8.25% deposit

9.25% lending

Down

Tadawul

10,979

-0.1% (YTD: +26.4%)

Up

ADX

6,899

+0.9% (YTD: +36.8%)

Up

DFM

2,816

+0.2% (YTD: +13.0%)

Up

S&P 500

4,352

+0.8% (YTD: +15.9%)

None

FTSE 100

7,123

-% (YTD: +10.3%)

Up

Brent crude

USD 76.17

+0.4%

Up

Natural gas (Nymex)

USD 3.70

+1.1%

Up

Gold

USD 1,783.30

+0.4%

Up

BTC

USD 34,623

+2.3% (as of midnight)

THE CLOSING BELL-

The EGX30 rose 1.3% on Thursday on turnover of EGP 1.3 bn (4.3% above the 90-day average). Regional investors were net buyers. The index is down 5.4% YTD.

In the green: Cleopatra Hospital (+3.1%), Ezz Steel (+3.1%) and Orascom Financial Holding (+2.8%).

In the red: Ibnsina Pharma (-1.8%), Abu Qir Fertilizers (-1.2%) and Orascom Development (-1.1%).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.