Duet Group and CI Capital have hired Amr Helal from Abraaj Group to manage a joint-venture private equity fund investing in Egyptian businesses.
Mahmoud Attalla, chief executive of Cairo-based CI Capital, says “greater political stability, government-led reforms and improving economic prospects” mean there has never been a better time to invest in Egypt.
The Duet – CI Capital Egypt Opportunities Fund has assets of $300 million and aims to support entrepreneurs, providing mentorship as well as financial and operational support. The fund’s management includes Seifallah Zoghbi, managing director, who joined earlier this year.
Founded in 2002, Duet Group has $5.5 billion under management, much of it invested in frontier and emerging markets.
The asset management division of CI Capital, one of Egypt’s largest investment banks, has 9.2 billion Egyptian pounds ($1.2 billion) under management.
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