Catalyst launches Egypt-focused impact fund
Catalyst Private Equity, a private equity fund manager focused on Egypt, has launched an impact investing fund called Catalyst Capital Egypt Fund (CCE). The fund has a target size of EGP1 billion ($54.6 million). The fund has achieved a first close of EGP450 million (about $24.6 million).
CCE aims to invest in small and medium enterprises (SMEs) in Egypt according to the Central Bank of Egypt (CBE) guidance of investing in SMEs. The fund seeks to generate a positive, measurable social and environmental impact alongside a financial return, as one of the key methods to achieve the Sustainable Development Goals (SDGs).
The fund’s limited partners include: Misr Insurance Holding Company, Misr Insurance, Misr Life Insurance, Post for Investment, Misr Fund for Finance and Investment, Banque du Caire, Attijariwafa Bank, Ahli United Bank, Suez Canal Bank and Al Baraka Bank, alongside Catalyst Private Equity as general partner and ultra-high-net-worth family offices. Al Tamimi & Co. was the legal counsel on the information memorandum; while, Baker Tilly acts as the fund’s auditor.
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