The Sovereign Fund of Egypt (“TSFE”) through its healthcare and pharmaceutical industries Subfund (“TSFE Healthcare & Pharma Subfund”) and B Investments Holding (“B Investments”), BPE Partners’ flagship investment vehicle, have signed an agreement to invest in B Healthcare Investments (“BHI”), an Egyptian subsidiary of B Investments working in the specialised healthcare services with initial focus in fertility and mother-and-child services.
BHI currently owns 51% of the Egyptian IVF Center, the pioneer of in-vitro fertilization (“IVF”) and one of the top fertility centers in Egypt and the MENA region. BHI is targeting to raise up to EGP 1 billion of which B Investments and TSFE have committed to invest EGP 200 and EGP 100 million, respectively, with the rest to be offered to local and regional private sector investors. The transaction was completed on 23 January 2023.
Zaki Hashem & Partners acted as sole legal counsel for B Investments in relation to the investment. The team was led by Arig Ali (partner, pictured) and included Ahmed Abdel Meguid (counsel) and Lana Abdel Rassoul (senior associate).