EFG Hermes, today announced that its Middle East and North Africa (MENA) Opportunities Fund has raised USD 1 billion in assets under management (AuM). Since its inception in September 2007, the Fund has delivered a blended return of 31% (as of July 31st ).
EFG Hermes has today agreed to subscribe for 9.97% of the share capital of Panmure Gordon through the placing of 6,732,675 million new shares for cash by Panmure Gordon to EFG Hermes at a price of 47p per share. Following the completion of the capital increase EFG Hermes Holding will hold an interest of 9.06% in the voting rights in Panmure Gordon.
EFG Hermes announced today that it has entered the highly promising Kuwaiti market through a strategic partnership with Kuwait Invest Holding Company whereby it has acquired an equity interest in Offset Holding KSC for approximately KWD 33.42 million (US$ 126 million).
EFG Hermes reported record revenues and net income for the first half of 2008. (Click here for the complete Earnings Release)
EFG Hermes has been ranked the top research house in the region in global business magazine Euromoney’s Second Annual Middle East Equity Research Poll. This is the second year the firm’s research department has topped the Euromoney survey.
EFG Hermes announces the recent addition of three senior executives from Goldman Sachs to the leadership team of its private equity business. These additions underline the importance of private equity as one of EFG Hermes’ core growth engines moving forward. The newly appointed team members are Hazem Shawki, Kashif Siddiqui and Walid Zein, all joining EFG Hermes Private Equity as Managing Partners based out of Dubai and Cairo. The three executives bring with them a wealth of regional and international experience from their tenure at Goldman Sachs.
EFG Hermes is the “Best Equity House in Egypt” according to top global business magazine Euromoney. The magazine made the announcement at the Euromoney Awards for Excellence 2008 Middle East Dinner in Dubai on June 11, 2008.
EFG Hermes has continued to build upon its existing range of products by launching the HSBC Bank Egypt second Fund, introducing an innovative fund structure into the Egyptian market. The Fund launch was a result of the successful partnership between EFG Hermes and HSBC Bank Egypt a multinational leading bank in the market and a member of the HSBC Group.
EFG Hermes announced today its sponsorship of "Bassim Magdy Art Exhibition," that took place on May 5th at Town House Gallery, Cairo Egypt. The Firm announced it is proud and pleased to be linked to "young and established Egyptian talents." Believing that creativity is a hallmark of its corporate culture, the Firm's sponsorship of the event also comes in the light of its longstanding support for arts and culture across the region, since it has been keen to support many cultural events and art exhibitions in the countries where its clients and employees exist.
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