EFG Hermes and Dr. Hatem El Gabaly have concluded a General Partner agreement that establishes the firm in Mauritius, where the Rx Healthcare Fund will be domiciled. The General Partner has entered into an Investment Management Agreement with the Fund to employ a dedicated team led by Dr. El Gabaly and Dr. El Kholy to manage the Fund that combines expertise in both healthcare operations and finance.

Beyond the General Partner sponsors, the Rx Healthcare Fund will be targeting investments from development finance institutions (DFIs) and both qualified international and high-net-worth regional investors. Among DFIs, the Arab Development Bank has invested USD 20mn to become the Fund’s first Limited Partner and anchor investor. Rx Healthcare is currently in various stages of discussion with other potential investors, and its Investor Roadshow is scheduled to begin in the third quarter of 2017.