Taaleem Management Services Company (Taaleem), an Egyptian higher education platform that manages the local private university Nahda University in Beni Suef (NUB), will receive an equity investment of EGP1.2 billion, or $73 million. Monies will be provided by the Egyptian financial services group CI Capital Holding and StonePine ACE Partners Limited, a joint venture set up by StonePine Capital Partners, a Dubai-based asset manager, and ACE & Company SA, a private equity group based in Geneva and managing assets of around $900 million.

The transaction allows CI Capital Holding and StonePine ACE Partners Limited to strengthen their shareholdings in the Egyptian Taaleem facility. They recently (in September 2019) acquired a 60% interest in Taaleem's capital for an investment of $73.6 million. The acquisition was completed through StonePine ACE Fund, an investment fund owned by StonePine Capital Partners and ACE & Company SA.

Youssef Haidar (pictured), founder and CEO of StonePine Capital Partners, said: “We are pursuing our investment strategy of partnering with leading regional investment companies to target attractive assets in our sectors of interest. We believe in the Egyptian market and in an extremely attractive higher education sector. We believe that our partnership with CI Capital will provide excellent returns to our investor base.”

Chamberline Moko