U.S. Cartel Capital to invest $2 bln in Egypt, Gulf before year-end

U.S. private equity and venture capital firm Cartel Capital plans to invest around $2 billion in Egypt and some Gulf countries before the end of the year, its investment head said on Monday.

The investments will be through acquisitions deals and providing capital for petroleum and energy sectors, Ayman Abou Hend told Amwal Al Ghad.

The New York-based firm will also study investment deal opportunities in Egypt for 2019 in several sectors such as pharmaceuticals and medium-sized housing, Abou Hend said.

Cartel is a group of angel and professional investors that source investment opportunities in North America and the Middle East. The spectrum of these investors range from professional investment managers to experienced industry personas.