A new Ezdehar fund to support strugglingfirms: Private equity firm Ezdehar Managementwill launch a EGP 1 bn local-currency fund targeting struggling medium-sized businesses in 3Q 2023, Managing Director Emad Barsoum was quoted as telling Al Mal. The fund is approaching major local banks and other financial institutions for investment and is in preliminary talks with Avanz Capital Management’s Avanz Manara fund, Ezdehar Managing Director Emad Barsoum told Enterprise.

The new fund has between five and seven firms in its sights for investment this year, Barsoum told us, declining to name the companies. It will target stakes of 20-25% in medium-sized companies struggling with recent economic pressures including the EGP devaluation and inflation, in sectors including F&B, healthcare, ins., education, and manufacturing, he added.

More where that came from? The fund could target a second close of EGP 2 bn “if market conditions allow,” Barsoum said, adding that the initial EGP 1 bn could be deployed in as quickly as six months or as long as two years depending on the economic situation.

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