ArabFinance: Ezdehar Management announced the first close of the Ezdehar Mid-Cap Fund II (EMF II) with total commitments of $168 million, according to a press release.
This has surpassed the first original close target of $100-120 million, aiming for a final close of $180 million by the end of 2022.
The first close of EMF II, along with existing EMF I investments, bring Ezdehars assets under management in Egypt to over $250 million.
EMF II will maintain Ezdehars investment strategy and bolstering mid-cap companies going through transformative growth through injecting fresh capital, provision of hands-on operational support, and instilling best-in-class ESG standards.
The strategy benefits from multiple macro tailwinds including Egypts deep bench of mid-cap and family-owned companies, the governments daring and promising reform program, the rise of an entrepreneurial class of management professionals that is crucial to enterprise building, and several favorable sector-specific trends in Ezdehars target sectors as well as Ezdehars proprietary operational improvement system that has been tried and tested in all EMF I companies, the release highlighted.
EMF II witness the return of limited partners from EMF I, with higher commitments, including the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), CDC Group PLC, and FMO the Entrepreneurial Development Bank.
Moreover, EMF II has been successful in attracting new limited partners, such as International Finance Corporation (IFC), the Egyptian American Enterprise Fund (EAEF), and the Belgian Investment Company for Developing Countries (BIO).
This ensures the global investors trust in Ezdehars strategy and capabilities as a fund manager.
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