Cairo –   The Egyptian Sovereign Wealth Fund signed a memorandum of understanding (MoU) with New York-based Concord International Investments, an SEC registered investment management company and one of the leading fund managers of Egyptian securities in the world.

The MoU includes the establishment of a joint venture to launch and manage a healthcare-focused fund with an initial target value of $300 million, according to a statement on Wednesday.

The fund, which will invest primarily in Egypt, the Middle East, and Africa, aims to create a diversified healthcare platform, catering to the diverse needs of the growing population of the North African nation.

Source: Mubasher

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