A second challenge is that ESG issues are still not prioritised in FEMs making it necessary to tailor interventions to local circumstances while still adhering to global standards and expectations. Editing by Jane Merriman. A key challenge is the lack of reliable data on ESG issues. Vortex acquired 457 MW of wind assets from EDP Renováveis SA across four Western European jurisdictions and acquired 365 MW of solar assets from TerraForm Power in the United Kingdom, and recently, divested its wind portfolio in 2019 to J.P. Morgan Asset Management.
EFG Hermes, which has a presence in the United Arab Emirates, Saudi Arabia, Kuwait, Jordan and Oman, is one of the largest investment banks in the Middle East.
„. EFG-Hermes is regulated by the Financial Regulatory Authority. Without these cookies, any services on our Site you wish to access cannot be provided. Managed by EFG Hermes’ Private Equity, the Vortex Renewable Energy platform, one of the largest renewable energy-focused investment managers in Europe, is currently expanding into global markets, with an aim to geographically diversify its clean energy footprint. All quotes delayed a minimum of 15 minutes. The Solar PV transaction was valued at an Enterprise Value of ca.
Vortex was able to close three investments, one divestment and three debt re-financings since inspection. Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. Karim Moussa, head of asset management and private equity at EFG Hermes, said EFG Hermes had found a strong partner in FIM’s founder and CEO Hedi Ben Mlouka and his team. A mortgage finance joint venture with TMG and GB Capital to offer unrivalled mortgages with fast turnaround time and improve access to affordable housing. This brings the SME component of the Total portfolio to 16% of a total of EGP 3.5 billion in 2019. Neglecting ESG issues opens up the Firm to considerable risk. EFG-Hermes Financial Management (Egypt) Limited. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Vortex has continued to outperform investment targets in terms of electricity generation and financial performance across the years, demonstrating the attractive financial returns possible on sustainable and responsible investment. For more information about the cookies used on this site, see the privacy and cookies policy. He has worked on the evaluation, transaction-execution, post-acquisition strategy implementation and exits for the EFG Capital Partners Fund II, with total investments in excess of USD 120 million and exits of USD 200 million. With 271 branches and new products such as group lending, designed specifically to help women, Tanmeyah’s efforts to promote financial inclusion are highly effective. By 1030 GMT, EFG Hermes shares were at 23.75 pounds, up 0.71 percent and attracting the biggest volume in the market. In the short-term, RI may be challenging in terms of returns; however, there is no other choice if long-term value creation is the overall objective.
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages. EFG Hermes Leasing has created an EGP 225 million grant facility for SMEs in conjunction with the Saudi Development Fund of which 37.5 million is directed to SMEs located in remote governorates and another 37.5% is directed to the agricultural sector. We use this information to make our website work and enhance our services. EUR 2.4 billion in the European renewables market since 2014. Hermes said it would own a 50 percent stake in FIM through the agreement while the remaining 50 percent will continue to be held by Ben Mlouka.
“I look forward to working with them on developing further their edge while offering the FIM current product portfolio through our growing network of regional and international institutional clients,” Moussa said in a statement. Furthermore, he has led the investment process of several primary and follow-on investments under the EFG Capital Partners Fund III, in excess of USD 100 million. In 2019, the Fund acquired a majority stake in the leading transport provider, Option Travel to provide a high quality and competitive student transportation service to c. 6k students c u r r e n t l y enrolled in GEMS schools in Egypt. “The ESG due diligence process has to start early when we evaluate investment opportunities for our clients. For more information about the cookies used on this site, see [insert link to privacy & cookies policy].
Reporting by Ehab Farouk; writing by Arwa Gaballa. Established in 2008, FIM has grown over the past few years to In 2018, EFG Hermes Private Equity entered into an exclusive partnership with Global Education Management Systems (GEMS), one of the world’s leading providers of private English-language education for students from kindergarten to twelfth grade (K-12), to jointly establish a new USD 300 million platform focused on Egypt’s underserved K-12 education sector. This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us [and our partners [include link to list of partners]] to provide you with more relevant ads . Responsible Investment involves making informed choices and setting priorities based on sound research. CAIRO, July 18 (Reuters) - EFG Hermes UAE Limited, owned by Egyptian investment bank EFG Hermes, is to invest $21.5 million in Frontier Investment Management Partners LTD (FIM) as part of plans to expand its asset management business, the bank said on Tuesday. Tanmeyah Microfinance, one of the country’s largest micro lenders, celebrated its 10th anniversary in 2019. EFG Hermes’ adherence to the UN PRI was considered a key regional advantage for the Firm in demonstrating commitment to ESG issues and creating investment opportunities. EFG Hermes has developed a series of products and initiatives that aim to realize financial inclusion at different levels through a variety of mechanisms including microlending, leasing, mortgage financing and Fintech solutions. Our portfolio is mainly in Europe so we can’t ignore these issues. ESG integration has become a priority for institutional investors at the global level. The partnership aims to provide high-quality education choices for Egyptian families by building Egypt’s largest institutional education service provider, upgrading education facilities and providing safe and effective learning environments. Financial Inclusion: Financing a Brighter Tomorrow, Health & Education: Foundations of Sustainability. Frequently, there are problems that can completely derail the process if we discover them too late „, “When we try to attract Foreign Direct Investment (FDI), we showcase our achievements on ESG, particularly the UN PRI. Last updated on Management Partners Limited Cairo, July 18th, 2017: EFG Hermes UAE Limited (“EFG-Hermes” or the “Company”), a whollyowned subsidiary of EFG Hermes Holding S.A.E., has entered into definitive agreements to invest USD 21.5 million in Frontier Investment Management Partners Limited (“FIM”). The workshop generated a highly fruitful discussion on the unique challenges facing each business line for ESG integration and yielded useful criteria for increasing the level of ESG analysis, particularly in the social and environmental fields which typically receive less focus than good governance, a cornerstone of EFG Strategy since its founding. Our Standards: The Thomson Reuters Trust Principles. Middle East North Africa Financial Investments W.L.L. FIM is one of the region’s leading asset managers with $1.6 billion of assets under management.
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