Egypt’s Financial Regulatory Authority (FRA) said on October 2 that it had licensed the Distressed Factories Restructuring Investment Fund, with unit subscriptions scheduled to begin on October 4. Its approved information memorandum offers 1 billion units at a nominal value of EGP 1 each, setting target capital at EGP 1 billion.

The closed-end private equity fund aims to make direct equity investments in financially or operationally distressed companies that still have viable products and assets, across food, engineering, chemicals, textiles, pharmaceuticals and building materials. CI Capital B.I. was named as investment manager. Capital is to be paid in instalments aligned with viable opportunities. These are the fund’s target scale and design; the announcement does not yet report portfolio companies, invested amounts or restored production.