The Sphinx Turnaround Fund (“the Fund”) is a private equity fund focusing on Egyptian small and medium enterprises (SMEs) in financial distress. SIFEM committed USD 8.5 million to Sphinx Turnaround Fund on behalf of SECO.
The Fund provides capital, strategic advice and new management to Egyptian SMEs that are distressed, in default, or in need of restructuring. It targets companies that demonstrate competitive advantages in global markets and in those in sectors with consolidation potential. The Fund holds majority stakes with average investments of USD 15m in companies with an enterprise value of up to USD 60m.
The Fund is managed by Sphinx Private Equity Management ("Sphinx"), an SME focused private equity management firm, based in Cairo, Egypt, and led by Marianne Ghali. Marianne Ghali has over 20 years of private equity investment experience in Egypt and is now managing her third fund. Sphinx currently has USD 230m in assets under management. Citadel Capital, one of the leading private equity actors in Egypt and the MENA region, holds a majority stake in Sphinx and is a co-investor in the Fund.
