Ezdehar Fund aims to complete three acquisition deals before the end of this year, and it is expected to complete one deal in the third quarter and the two others in the last quarter of the year.
Emad Barsoum, the Managing Director of Ezdehar Fund, told Daily News Egypt that the targeted investment opportunities are in various sectors such as education and retail, and the fund plans to invest between $50-60m during the current year.
He pointed out that the fund could exit one of its investments during the current year, and another exit next year. The fund recently exited from Global Corp for Financial Services.
The fund earlier ended the first closing with a value of $168m, exceeding its target between $100-120m.
Barsoum explained that the fund aims to complete the second closing within months, to reach $180m in the final closing.
He said that the volume of assets under management currently amounted to about $250m, especially as the Ezdehar fund reached $84m in addition to the first closing of the second fund.
He pointed out that the second fund aims to allocate its funds within three years, by injecting investments worth between $60m and $70m annually.
He added that the average investment life of the fund ranges between 3 and 6 years, depending on the opportunity, and between $5m and $20m are allocated to each of them.
He pointed out that the fund aims to acquire stakes in companies ranging between 20 and 25% so that it can be on the companies’ board of directors.
Barsoum mentioned that the fund’s most prominent investors include the European Bank for Reconstruction and Development, the European Investment Bank, the British CDC Group, the Dutch Development Bank, the international financial institutions, the Egyptian-American Enterprise Fund, and the Belgian Investment Company for Developing Countries.
