Union Capital: AUMs hit 400 million Egyptian pounds at 2016-end

Egypt-based private equity firm, Union Capital reported assets under management totalling 400 million Egyptian pounds ($24.7 million) at the end of 2016, managing director announced Sunday.

Minoush Abdel-Meguid told Amwal Al Ghad that her company is planning to launch a new fund designated to help restructure troubled factories before the first half of 2017, at an initial capital of 150 million pounds.

“We are studying the condition of around 600 factories in order to select between 30 and 40 factories before pumping the required liquidity and starting the restructuring step which will last for roughly two years.” Abdel-Meguid added.

Union Capital’s fund has been founded in mid 2008, tailored to invest in small and medium-sized enterprises (SMEs) in addition to micro-sized businesses.