First Equity to pump $63 million into Egypt’s industrial sector

First Equity Partners (FEP), a leading private equity manager in the MENA region, is to pump investments of 500 million Egyptian pounds (US$63 million) into Egyptian market in 2016, its deputy CEO Omar El Maghawry said Saturday.

El Maghawry told Amwal Al Ghad that FEB’s planned investments in Egypt would be to serve notably the industrial sector and the rehabilitation of faltering companies. In addition, the investments will be also directed to the Egyptian food sector through FEB’s investment arm, Engazat Masr Company, he noted.

The anticipated investments are part of First Equity Partners’ strategy to boost its presence in Egypt, he added.

Since the beginning of 2015, First Equity Partners has pumped more than 50 million pounds in Egypt, in form of direct investments in Engazat Masr and Egyptian Industries.

Furthermore, the official said First Equity Partners is currently running total assets of US$3 billion distributed to various markets such as Egypt and UAE. The Egyptian market seizes one billion dollars of the FEP’s assets.

First Equity is considered the main gateway and the investment agent for Arab clients in particular, and foreign clients in general, who are interested in investing in the Egyptian market.

In March 2015, First Equity Partners acquired a majority stake of 67 percent in White House Securities and converted its name to FEP Capital, which is currently administrating Engazat Masr.