Finance(Ecofin Agency) - The acquisition is the first investment made by Amethis and the EBRD in Egypt’s non-banking financial sector. Investment fund managers Amethis and SPE capital as well as the European Bank for Reconstruction and Development (EBRD) recently acquired a majority stake in Egyptian non-banking financial services company GlobalCorp. By investing in GlobalCorp, Amethis is making its first commitment in Egypt. The private equity firm executed the transaction through its multi-sector fund Amethis Fund II S.C.A, dedicated to African SMEs. Alternatively, it represents SPE Capital's second investment in Egypt, through its SPE AIF I fund, specifically targeting small and mid-cap companies in North Africa.

Source: The North Africa Journal May 10, 2022 18:32 UTC