May 6, 2020 / 7:44 AM / 23 days ago

BRIEF-The Sovereign Fund of Egypt, Concord International to Establish A Diversified Healthcare Fund

May 6 (Reuters) - THE SOVEREIGN FUND OF EGYPT:

* SOVEREIGN FUND OF EGYPT (TSFE) AND NEW YORK BASED CONCORD INTERNATIONAL INVESTMENTS SIGN MOU WHICH ENTAILS COOPERATION OF TWO ENTITIES TO ESTABLISH A JOINT VENTURE

* JOINT VENTURE TO RAISE AND MANAGE A SPECIALIZED HEALTHCARE FUND THAT WILL INVEST PRIMARILY IN EGYPT, AS WELL AS MIDDLE EAST AND AFRICA

* FUND’S INITIAL TARGET SIZE IS $300 MILLION WITH THE AIM OF ACHIEVING LONG-TERM CAPITAL APPRECIATION BY TAKING ADVANTAGE OF OPPORTUNITIES FOR DIRECT INVESTMENTS IN EGYPT

* FUND WILL ACT AS A CATALYST TO ATTRACTING SIZABLE FOREIGN DIRECT INVESTMENTS AS WELL AS IDENTIFYING CO-INVESTMENT OPPORTUNITIES IN SIGNIFICANTLY LARGE PROJECTS

* AYMAN SOLIMAN, TSFE’S CEO SAYS TSFE AND CONCORD INTERNATIONAL HAVE STARTED PROCESS TO ESTABLISH A JOINT VENTURE MANAGEMENT COMPANY TO SOURCE AND MANAGE INVESTMENTS ON A NON-EXCLUSIVE BASIS, IN A HEALTHCARE SERVICES AND PHARMACEUTICAL FUND TO ACHIEVE LONG TERM CAPITAL APPRECIATION IN PUBLIC AND PRIVATE ASSETS Source: (XXXX) Further company coverage:

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