EFG Hermes Education Fund signs new investor
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 unutilised assets. GEMS Egypt was established in 2018 as a partnership between the EFG Hermes Education Fund and GEMS Education, one of the largest private school operators in the world.
The investment is considered TSFE’s first in Egypt’s education sector and is a testament to GEMS Egypt’s success in the local market over the last two years which saw the platform deploy investments amounting to almost EGP 1.6 billion (about $100 million).
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.