Compass Capital plans to launch EGP 3B fund for EGX-listed stocks in H1

Updated 2/13/2024 9:36:00 AM
Compass Capital plans to launch EGP 3B fund for EGX-listed stocks in H1

Arab Finance: The private equity firm Compass Capital, in cooperation with CI Capital, is planning to launch C3 Fund worth EGP 3 billion within the first half (H1) of 2024, the firm’s Managing Partner Tarek Abdel Rahman told Al Arabiya Business.

The fund is aimed at investing in stocks listed on the Egyptian Exchange (EGX).

The fund’s launch is pending the final approvals of the Financial Regulatory Authority (FRA) and the Central Bank of Egypt (CBE), Abdel Rahman said.

C3 Fund is set to carry out its first closing at EGP 2 billion, he added.

Abdel Rahman pointed out that the company is planning to raise the capital of its subsidiary Bonyan for Investment and Development to around EGP 400 million, while adding three or four projects a year to the firm’s portfolio.

Moreover, Compass Capital is seeking to invest EGP 2 to EGP 3 billion in new projects within a year, he said.

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