Union Capital to launch second SME fund in 2020

INVESTMENT WATCH- Hani Sarie-Eldin’s private equity firm Union Capital is planning to launch its second SME-focused investment fund in 2020, Managing Director Minouche Abdel Meguid tells Al Mal. The new fund will be on the lookout to acquire stakes in small and medium-sized companies operating in the renewables, electric cars, mining, and logistics sectors, and draft up plans for those companies to encourage them to diversify their business and ownership base. Union’s first fund, which is currently approaching the end of its life cycle, was established in 2008 and had a portfolio of small and medium-sized manufacturers.