Private equity firm hits the market

A $50 million-$75 million fund expected in 2015

Wassim Heneine and Karim Burhani, with a group of prominent investors, have established a new investment firm called ‘Emerging Investment Partners’ (EIP) to conduct private equity business in the Middle East and North Africa.

“Our team will be located in Beirut and will set up other offices in the region,” said Heneine, who will be co-managing director with Burhani. “We will start active fund raising in the first quarter of 2015 and will solicit regional high net worth individuals, commercial investors, and international institutions,” he said.

The firm is expected to launch its first private equity fund, ‘Emerging Investment Partners’, during 2015. “The size of the fund will range between $50 million to $75 million. It is a growth capital fund that will invest in companies that have potential to grow regionally,” he said.

The fund will target Small and Medium Enterprises (SMEs), investing between $5 million to $10 million, in each company, according to Heneine. “We are targeting sectors of strong performance, including financial institutions, food, education, Fast Moving Consumer Goods (FMCG), and industrial sectors like chemicals, paper and cement factories among others,” he said.

The fund will also invest in the local knowledge economy, in line with Circular 331 of the Central Bank (BDL).

Prior to starting the fund, Heneine and Burhani were both directors at the Beirut-based EuroMena Funds, sponsored by to Capital Trust Group (CTG).