{"id":561251,"date":"2021-03-31T04:11:08","date_gmt":"2021-03-31T04:11:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/"},"modified":"2021-03-31T04:11:08","modified_gmt":"2021-03-31T04:11:08","slug":"sfe-makes-its-first-investment-in-education-with-efg-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/","title":{"rendered":"SFE makes its first investment in education with EFG fund"},"content":{"rendered":"

<\/a> EFG Education Fund hits third close with SFE investment:<\/strong> The Sovereign Fund of Egypt (SFE) has committed EGP 250 mn (c. USD 15.9 mn) to the EFG Hermes Education Fund, according to ajoint<\/a>statement<\/a>(pdf)<\/a> published yesterday. The investment brings the fund to its third close, a source with direct knowledge of the matter told Enterprise. This will be the only investment in the fund\u2019s third and final close, Karim Moussa, the head of asset management and private equity at EFG Hermes, told us.<\/p>\n

EFG\u2019s education fund now has some USD 150 mn in dry powder to invest<\/strong>, \u201cwhich perfectly positions us to continue expanding our scope in the Egyptian market,\u201d Moussa said. The third close makes the fund \u201cone of the largest specialized investment funds in the MENA region,\u201d he added. The education fund had an initial close in 2018<\/a> that saw it land commitments worth a combined USD 119 mn from local and foreign investors. It reached a second close in June 2019 with commitments from regional institutional investors, Moussa told us.<\/p>\n

About the education fund:<\/strong> Established in 2018, the fund was set up as a 50\/50 JV between EFG and GEMS Education<\/a> to invest in Egypt\u2019s K12 education sector. It is managed by the investment bank\u2019s private equity unit. EFG said at the time that it expected to invest USD 300 mn<\/a> in Egyptian schools over the next five years.<\/p>\n

The <\/strong>SFE also signed an MoU with GEMS Egypt<\/strong> to build and operate two national schools in west Cairo, the statement said. The schools will be built on SFE-owned land and will each have capacity for 2.5k students. The MoU \u201cwill help [GEMS] expand our geographical presence in the local market while maximizing value for landowners like SFE through long-term impactful investments,\u201d GEMS Egypt CEO Ahmed Wahby said in the statement.<\/p>\n

This is the first education investment for the SFE \u2014 but not the first expression of <\/strong>interest in the sector:<\/strong> The fund said last year<\/a> that it was in talks with several foreign companies to get them to invest in education, after signing an agreement with private equity giant Actis to drive investment in priority sectors in Egypt\u2019s economy, including education.<\/p>\n

And it won\u2019t be the commitment the SFE makes to an industry-specific fund:<\/strong> The SFE will follow up the partnership by making \u201csimilar alliances with entities that possess technical know-how and the necessary capital in the near future,\u201d said CEO Ayman Soliman.<\/p>\n","protected":false},"excerpt":{"rendered":"

EFG Education Fund hits third close with SFE investment: The Sovereign Fund of Egypt (SFE) has committed EGP 250 mn (c. USD 15.9 mn) to the EFG Hermes Education Fund, according to ajointstatement(pdf) published yesterday. The investment brings the fund to its third close, a source with direct knowledge of the matter told Enterprise. This […]<\/p>\n","protected":false},"author":1,"featured_media":561252,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[73,84,3870,72,1929,125,3869,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-education","tag-efg-hermes","tag-efg-hermes-education-fund","tag-enterpriseam","tag-gems","tag-investment-watch","tag-karim-moussa","tag-sovereign-fund-of-egypt","wpautop","entry"],"acf":{"mongo_id":"f322b811-078e-4543-b1d1-47696be7f5f3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/366.jpg","photo_position":"above","related_issue":[561247],"teaser":"","voice_url":""},"yoast_head":"\nSFE makes its first investment in education with EFG fund - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/sfe-makes-its-first-investment-in-education-with-efg-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SFE makes its first investment in education with EFG fund\" \/>\n<meta property=\"og:description\" content=\"EFG Education Fund hits third close with SFE investment: The Sovereign Fund of Egypt (SFE) has committed EGP 250 mn (c. 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The commitments, which are well above an initial target of USD 50-100\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544870,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/efg-hermes-private-equity-units-eye-fresh-investments-acquisitions\/","url_meta":{"origin":561251,"position":1},"title":"EFG Hermes\u2019 private equity units eye fresh investments + acquisitions","author":"enterpriseam admin","date":"24 March 2022","format":false,"excerpt":"EFG Hermes-led Vortex Energy, RX Healthcare, and Education Fund eyeing fresh investments + acquisitions: EFG Hermes\u2019 Egypt Education Fund, and its healthcare arm, RX Healthcare, are studying new investments and acquisitions, head of private equity and asset management Karim Moussa told Enterprise, confirming a story published in Al Mal.The education\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/340.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":611921,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/","url_meta":{"origin":561251,"position":2},"title":"EFG Hermes eyes USD 300 mn second close for Vortex renewable energy fund","author":"enterpriseam admin","date":"14 December 2023","format":false,"excerpt":"The close could wrap up before the year\u2019s end, bringing the fund\u2019s total size to over USD 500 mn","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629036,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/21\/efg-gems-partner-up-on-new-k-12-education-platform-in-egypt\/","url_meta":{"origin":561251,"position":3},"title":"EFG, GEMS partner up on new K-12 education platform in Egypt","author":"enterpriseam admin","date":"21 May 2018","format":false,"excerpt":"INVESTMENT WATCH- EFG, GEMS to partner up on new K-12 education platform in Egypt; could invest USD 300 mn over the next five years: EFG Hermes announced yesterday (pdf) that it\u2019s partnering up with GEMS Education to invest in the K-12 education industry in Egypt. The project, a 50\/50 joint\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":655462,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/19\/efg-hermes-launches-usd-300-mn-saudi-education-fund-acquires-schools-across-the-gcc\/","url_meta":{"origin":561251,"position":4},"title":"EFG Hermes launches USD 300 mn Saudi Education Fund, acquires schools across the GCC","author":"enterpriseam admin","date":"19 November 2024","format":false,"excerpt":"SEF has acquired a total of seven Britus Education schools from GFH Financial Group","rel":"","context":"In "Education"","block_context":{"text":"Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1693.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609282,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/02\/efg-hermes-backed-education-firm-could-enter-saudi-market-plus-vortex-has-so-far-invested-eur-300-mn-in-ignis\/","url_meta":{"origin":561251,"position":5},"title":"EFG Hermes-backed education firm could enter Saudi market. 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