EFG-Hermes launches Horus III

Horus III Fund investors are comprised of a number of Egyptian and regional financial institutions, as well as high-net worth individuals.

"With Horus II, we managed to return more than 80% of the principal investment to the investors in a period of two years at a realized internal rate of return of over 70%, and we are looking to build upon this success in the future," said Samer Yassa, Partner, EFG-Hermes Private Equity.

"Horus III is uniquely positioned to invest in the fast growing Egyptian and North African markets. EFG-Hermes Private Equity has been offering unique alternative investment opportunities for high net worth individuals and large institutional investors covering 15 different sectors, through a number of private equity funds,"

said Hany El Sonbaty, Partner, EFG-Hermes Private Equity.

"Our Private Equity division has been functioning for over a decade, and our performance over that period of time has been among the best throughout the Middle East and North Africa Region," said Yasser El Mallawany, Chairman and CEO of EFG-Hermes.

"The continued growth of markets in the region has led to a surge in investor confidence. Expanding regionally is a key focus within our business plan. With funds such as Horus III, we can take our combined experience and apply it on a regional level," continued El Mallawany.

The firm launched its first private equity fund (which was the first private equity fund in Egypt), Horus I, ten years ago. Horus I raised $54m. Nowadays, the firm manages a number of private equity funds which volume reaches over $1bn. These cover numerous sectors including the following; tourism, TMT, food, financial, real estate, chemicals, durables, textiles, oil and gas, pharmaceuticals, cables and building material.