SFE to launch education sub-fund
The Sovereign Fund of Egypt (SFE) will soon launch a new sub-fund to invest in the education industry, CEO Ayman Soliman told Youm7. The fund plans to finance the construction of hundreds of schools across the country targeted at middle-class families, he said, stopping short of giving a target value for the fund.
The SFE made its first commitment in the sector in March, committing EGP 250 mn to the EFG Hermes Education Fund. It also agreed last month to invest in a new education investment platform dubbed Lighthouse Education, which plans to channel EGP 1.75 bn into 10-12 private K-12 education schools.
There’s more where that came from: Soliman said the fund will soon announce four new partnerships in the education field that will help build the schools, as well as new universities.
This will be the SFE’s fifth sub-fund: The SFE already has four sub-funds covering healthcare, financial services, tourism and real estate, and infrastructure.