Egypt: European LP proposes $20m investment in PE fund

Dutch development bank FMO is proposing a $20 million investment in the Ezdehar Mid-Cap Fund II, which aims to provide capital to SMEs/mid-cap companies operating in Egypt. The fund will be managed by Ezdehar B.V. with a targeted fund size of $150 million in commitments.

This represents a continuing relationship for FMO, having committed to the predecessor fund in 2016.

The fund manager intends to promote development by enhancing sustainable growth of private sector businesses in Egypt. The investment strategy of Ezdehar II will be in line with the successfully implemented strategy of its predecessor, targeting mainly family-owned companies looking to grow and institutionalise with the support of a hands-on partner.

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