News

Egypt’s wealth fund appoints CIO

The Sovereign Fund of Egypt (TSFE) has appointed Abdalla ElEbiary as its chief investment officer.  Prior to joining the wealth fund, ElEbiary spent 14 years as the managing director of Qalaa Holdings, an Egypt-based investor in African energy and infrastructure projects.  He has also headed up the Egyptian Private Equity Association for the last four years and has spent time in New York working for investment bank Merrill Lynch.  TSFE’s chairman, Ayman Soliman, said the appointment was “another significant addition to our steadily growing team” that bodes well for the funds future and “its mandate to implement sound market-based investment management strategies”.  ElEbiary said: “Our key goal is to create sustainable value for future generations by unlocking value of state assets, boost private sector investments and develop sectors that play a keep role in Egypt’s economy.”  The appointment comes just weeks after the TSFE announced plans to launch four new sub-funds. © 2020 funds global mena

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