The Sovereign Fund of Egypt (TSFE) and EFG Hermes announced that TSFE has committed EGP 250 million (about $16 million) to the EFG Hermes Education Fund’s third close.

TSFE and GEMS Egypt also signed a memorandum of understanding to develop and operate two premium national schools west of Cairo, which will be built over 30,000 sqm with a capacity of 2,500 students each. The schools will be constructed on TSFE-owned land in line with its mandate to create value out of previously unuti...