ICEC

Egyptian Aur Capital’s assets under management to top $2.2 bln late 2019

Egypt’s private equity firm Aur Capital, whose founder is a former investment minister, is seeking to double its assets under management to range between 30 billion and 40 billion Egyptian pounds ($1.7-2.2 billion) by late 2019.

Ashraf Salman, founder and chief executive of Aur Capital, told Amwal Al Ghad on Wednesday that the company currently manages around 15 billion pounds of assets.

These assets are represented in the investments of Aur’s subsidiary ARCO EGYPT as well as its share in the newly-established strategic alliance with real estate group Wadi Degla Developments, Salman said.

“We are planning to boost our asset base, which focuses on non-banking financial services, by launching more mutual funds in sectors of health, education, and leisure within 2019,” Salman said.

Aur Capital and Wadi Degla Developments announced on Wednesday a new strategic alliance aimed to launch a 2.350 billion Egyptian pound ($131.25 million) private equity fund, named Aur-Wadi Degla.

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