INVESTMENT WATCH- EFG Hermes’ Rx Healthcare fund has managed to raise USD 27 mn, sources told Al Mal. The paper says the fund took in USD 20 mn from GE Healthcare and USD 7 mn from the African Development Bank (AfDB). Sources added that the fund aims to reach USD 80-90 mn in size and targets 1H2018 for its launch. AfDB was first announced as an investor in the fund in October 2016, when it committed USD 20 mn. A year later, GE Healthcare was announced as an anchor limited partner of the fund. Rx Healthcare is an Africa-focused healthcare private equity fund led by former Health Minister Hatem El Gabaly.

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