Bayt El Khebra has a EGP 15 bn fund brewing: Financial services and advisory group Bayt El Khebra is planning to set up an investment fund with capital exceeding EGP 15 bn, Al Arabiya reports, citing sources close to the matter. The fund will target tourism, real estate, and industrial projects.

Who’s in? Major companies — as of yet still unnamed — are expected to contribute to the fund’s capital, though Bayt El Khebra will provide the lion’s share of financing, the sources said.

Bayt El Khebra? The Cairo-based financial services and business advisory firm has an extensive portfolio of tourism assets — including hotels in Hurghada, around a quarter of the shares of both Nile Ritz-Carlton owner Misr Hotels and Safir Dahab Resort, roughly a fifth of the Egyptian Resorts Company, along with sizable stakes in numerous pharma, ins., and agricultural companies.

Beyond financing: The fund’s activities will extend beyond providing financing, as Bayt El Khebra plans to form partnerships with major companies operating in the country to finance real estate, tourism, and industrial projects, according to the sources. The fund will also engage in corporate restructuring and resale operations.

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