The Sovereign Fund of Egypt Agrees to Park Money in B Investments’ Strategies

Posted on 01/25/2023

B Investments Holding SAE is an Egyptian private equity firm. The private equity firm used to be called BPE Partners, formerly Beltone Private Equity. B Investments Holding signed two agreements with The Sovereign Fund of Egypt (TSFE) to invest in specialized healthcare and pharmaceutical distribution and trade services in Egypt.

The deals were signed through the wealth fund’s healthcare and pharmaceutical industries Subfund, TSFE Healthcare & Pharma Subfund. Under the first definitive agreement, the Subfund will invest EGP 100 million in B Healthcare Investments (BHI), a fully-owned subsidiary of B Investments.

B Investments board has agreed to invest an initial amount of EGP 200 million in BHI. The current paid-in capital of BHI is EGP 130 million. B Healthcare Investments was established in 2021 and is B Investments’ specialized healthcare investment arm.

Under the second Memorandum of Understanding (MoU), B Investments will invest in the Subfund’s established platform dedicated to investing in pharmaceutical distribution and trade services. B Investments board has not yet determined the value of the company’s investments in this platform.

In December 2021, B Healthcare Investments signed transaction documents for the acquisition of a 51% stake in The Egyptian IVF Center as its first investment in the specialized healthcare space.

Hazem Barakat co-founded BPE Partners in 2006 with a vision to capitalize on his industry and operational expertise by investing in Egyptian businesses with growth potential. Barakat sits on the board of MNHD, Total Egypt and Al-Ismaelia. Prior to founding BPE Partners, he co-founded Miraco-Carrier, a major Egyptian air conditioner manufacturers, as well as Engineering Plastic Manufacturing, a plastics manufacturer. Aladdin Saba founded Beltone Financial in 2002 and co-founded BPE Partners in 2006. Saba was also a Co-Founder of Hermes Financial, which became EFG Hermes in 1996, after working as a Senior Portfolio Manager at Kidder, Peabody & Co. Inc. in New York.

TotalEnergies Marketing Egypt LLC
Disclosed on December 22, 2022, BPE Partners announces that its flagship-managed investment vehicle – B Investments – signed definitive agreements to exit its entire stake in TotalEnergies Marketing Egypt LLC for total proceeds of US$ 27.6 million. B Investments sold its entire 6.38% stake in TotalEnergies Marketing Egypt LLC to TotalEnergies Marketing Afrique SAS. Furthermore, B Investments is eligible for an additional amount equal to US$ 2.2 million subject to certain milestones concerning TotalEnergies Marketing Afrique’s transaction with Abu Dhabi National Oil Company for Distribution (ADNOC).

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