Egyptian Buyout Firm Preps $100M Turnaround Fund

May 9 2008 | 5:24am ET

Sphinx Capital Corp, a British Virgin Islands-based private equity shop, is currently marketing a $100 million turnaround buyout fund, Sphinx Turnaround Fund, to invest in small and medium enterprises in Egypt.

The fund intends to invest $10 million to $15 million on average to acquire majority or controlling stakes in distressed or defaulting companies. It is targeting a first closing in July 2008 with committed capital of $75 million. The International Finance Corp is making an equity commitment of up to $20 million in the fund.

Sphinx Capital is majority owned by Citadel Capital an Egyptian p.e. firm founded in 2003 by Ahmed Heikal and Hisham El-Khazindar.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of