Ezdehar eyes 1st close of new fund by June

The second and final close of Ezdehar Egypt Mid-Cap Fund II, the second fund, is expected to be executed before the end of this year

  

ArabFinance: Egyptian private equity fund operator Ezdehar Management targets a first close of $100 million (EGP 1.56 billion) for its second fund by the middle of 2021, Enterprise cited Founder and Managing Director Emad Barsoum on February 18th.

The second and final close of Ezdehar Egypt Mid-Cap Fund II, the second fund, is expected to be executed before the end of this year, Barsoum added. This would raise $80 million (EGP 1.25 billion) to $100 million (EGP 1.56 billion).

“The new fund will focus on manufacturing, pharma, healthcare, consumer goods, food and beverage, and education,” the business news service provider cited Barsoum.

Contributors to the fund included the European Bank for Reconstruction and Development, the European Investment Bank, Sawiri-owned Gemini Holding, UK-based CDC, and the Netherlands’ FMO, Barsoum elaborated.

“Negotiations are ongoing with the International Finance Corporation and the Egyptian American Enterprise Fund,” the news portal said according to the founder.

Ezdehar mulls the potential launch of an impact investing fund later this year or in 2022, according to the official.

Last September, Ezdehar acquired a minority stake in Al Tayseer Healthcare Group through Ezdehar Egypt Mid-Cap Fund, the first fund.

*At press time, the conversion rate is $1 = EGP 15.65

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