EGYPT – Ezdehar Management, an Egypt-based private equity firm, is currently studying two funding deals worth close to US$50m as inaugural of its new mid-cap fund, Ezdehar 2, according to the company’s Managing Director Emad Barsoum.
Barsoum, founding partner at Ezdehar, said that the company aims to close subscription in its new fund at US$100m by the end of March or, at the latest, next April, with a second subscription to open by the end of 2021 to attract more US$100m. The fund’s general strategy aims to invest the full amount of EGP200 million (US$12.81m) over four years.
He also said that the fund is looking to invest EGP50 million (US$3.2m) in 2021 but could invest more if opportunities emerge. He noted that if the fund succeeded in collecting subscription contracts worth US$100m in its first closing next March, the company will have sufficient liquidity to seize other opportunities.
“If the fund succeeded in collecting subscription contracts worth US$100m in its first closing next March, the company will have sufficient liquidity to seize other opportunities.”Emad Barsoum – Managing Director, Ezdehar
He added that coordination is currently underway with the same institutions that contributed to the first fund, to participate in covering the first closing of the new fund.
Contributions to Ezdehar’s first fund were distributed among a group of international institutions, led by: the European Bank for Reconstruction and Development (EBRD); the European Investment Bank (EIB); the British CDC Group; the Dutch Development Bank; and several Egyptian high net-worth investors headed by Naguib Sawiris.
Ezdehar was established in 2016 with capital worth US$90m. It then invested in several companies including Family Group, Rich Foods, and recently, Al Tayseer Healthcare Group.
It recently purchased a minority stake at Al-Tayseer Healthcare Group through Ezdehar Egypt Mid-Cap Fund. The company’s investment was within the framework of its strategy that aims to open new horizons in all fields, especially with regard to healthcare services.
Investing in Al-Tayseer Healthcare Group (THG) aims at supporting THG in consolidating its position as the largest healthcare provider in the underserved Delta region, investing in a number of hospitals in the pipeline, and expanding its chain of laboratories in the coming years.
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