The announcement took place during the Egypt Economic Development Conference in Sharm El Sheikh, reflecting The Company’s delight and honour to be an active participant in this exceptional conference. Furthermore, the company views this fund as another milestone in its quest to be part of Egypt’s economic development steered by the goaloriented Egyptian leadership and government.
The USD 1 billion fund is part of the company’s growing interest in infrastructure related projects in the Egyptian market, and it coincides with the announcement that was made during the same conference by THARWA Investments, the parent company of FourWinds Group of Companies, and the signing of a Memorandum of Understanding on cooperation to establish the world’s largest single-site 6,000 MW coal-fired power site at a cost of USD 11 billion. Both the fund and the USD 11 billion power site project that have been announced fall within the Group’s strategy to attract developments and international investments into the growing Egyptian market. Such direction falls in line with the Egyptian leadership and Government’s keenness to bringing socio-economic gains most notably through the creation of jobs and infrastructure developments that would benefit the Egyptian society as well as economy.
The FourWinds Group of Companies offer a hybrid structure that combines exceptional project development skills with global asset management capabilities that include excellent experience in seeding developments and managing assets and investments around the globe. The combination of these two critical arms is a significant advantage that enables FourWinds as a group to become uniquely qualified to deliver a project of this scope and magnitude.
As a result, the Capital Management arm of FourWinds has expanded its scope and developed a new dedicated fund focused on investing in infrastructure related projects and developments in Egypt. Mr. Vivek Rao, the newly appointed CEO of Four Winds Capital Management stated that “our international investor base as well as our regional capital sources are looking very positively at the recent developments in Egypt, and as a global infrastructure fund manager, we are extremely well positioned to launch and manage this Egypt centric opportunity”. This fund is expected to initially be at least USD 1 billion and may grow over time in line with the significant investment opportunities that are available.
“FourWinds is strongly committed to participating in the growth and development of this dynamic economy. We see enormous opportunities in power, water, transport, and other areas of critical investment and look forward to contributing to a prosperous future for Egypt.” Ms. Kimberly Tara, a Board member of the FourWinds Group of Companies, explains, adding that ‘the FourWinds Group of Companies will be evaluating potential local fund management partners.