Aur Capital to invest EGP 22 bn over the next five years

Former Investment Minister Ashraf Salman says his new private equity outfit, Aur Capital, will invest as much as EGP 22 bn in the next five years, Daily News Egypt reports (that about USD 1.2 bn if you, like us, are still struggling with the FX conversion math). The consumer-focused GP will launch in December and will focus on opportunities in real estate, health, education and food, said Salman. It’s first major investment since Salman went public with the fund last November was in real estate developer ARCO. Next on the list for execution are investments in the non-banking financial sector in partnership with Egyptian Gulf Bank (EGBank) and healthcare. Notable investors at the GP level are CityStars’ Abdul Rahman Al Sharbatly and the EGBank.