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Adenia Partners sets up shop in Egypt: Mauritius-based private equity firm AdeniaPartners has expanded into Egypt, setting up its first local office, according to a press release. The expansion comes on the heels of Adenia closing its USD 470 mn Capital V fund, its first pan-African vehicle.
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Big regional presence: The office is the firm’s eighth on the continent and its second in North Africa — Adenia first stepped foot into North Africa in 2021 with its Morocco office.
Why Egypt? “The move is driven by Egypt’s dynamic economic landscape, which offers a very large consumer base and significant investment opportunities across multiple sectors,” the release read.
Where’s the money headed? Adenia seeks to capitalize on potential investment in Egypt’s consumer goods, healthcare, education, and financial services sectors, Managing Partner Stephane Bacquaert said, highlighting Egypt’s “expanding consumer base, young, well-educated population, and stable economic and financial environment with an abundance of interesting and fast-growing businesses.”
Adenia wants controlling stakes: The company plans to use its recently-closed fund to acquire controlling stakes in companies, with hopes of securing net returns of no less than 15% in FX and control over exit strategies, Managing Director Alexis Claude told Bloomberg earlier this year.
Leading the new office is Heba Hakky (LinkedIn), who will steer the new office as Adenia seeks to tap potential investments available in Egypt and neighboring countries. Hakky previously served as Egypt Managing Director at a tech-enabled SME lender liwwa, she has held roles at Actis, Ezdehar Management, and Shari Holding.
More on Adenia: Established in 2002, Adenia has raised USD 950 mn across five funds and co-investments, with a focus on responsible investing and sustainable growth in Africa. The firm has completed over 30 platform investments with 20 successful exits.
