Robeco is to enter the Egyptian market as a strategic partner of Obelisk by means of a convertible loan. Obelisk Portfolio and Investment Fund Management SAE, an asset manager established in Cairo, was founded earlier this year by Dr. Sameh el-Torgoman, former chairman of the Egyptian stock exchange and Ahmed Khedr, portfolio manager and former CEO of Obelisk Securities in partnership with New York based Baron Group Holdings led by Ahmed Fattouh. Robeco will have the right to convert the loan into a stake of up to 49% in the new company.
Obelisk will focus on active asset management in Egypt and the Middle East using managed accounts and investment funds. Robeco will launch a Luxembourg-based MENA (Middle East North Africa) equity fund, for which Obelisk will act as adviser.
By financing this startup asset manager Robeco continues to promote its 'seed in emerging markets' strategy of being present in emerging markets with high expected growth. This strategy is currently focused on the Middle East, India and China. Egypt is the third Middle-Eastern country where Robeco is active. Robeco's distribution activities in the Middle East are carried out from the Bahrain office. Last year Robeco entered into a strategic alliance with Rana Investment Company in Saudi Arabia, which aims to jointly develop investment products for the Saudi market. Robeco has been active in these regions as an investor for a very long time, for example, through the Robeco Emerging Markets Equities fund.
About Robeco
Robeco provides discretionary asset-management products and services, as well as a complete range of mutual funds to a large number of institutional and retail clients worldwide. Robeco's product range encompasses fixed-income and equity investments, as well as balanced accounts, money-market funds and alternative investments.
Robeco distributes its funds for the retail market directly, and through other financial institutions. Several of its mutual funds, including the flagship Robeco N.V., are listed on major European stock exchanges such as Amsterdam, Paris, Frankfurt and London.
Robeco services its clients not only from its head office in Rotterdam but also from its European offices in Belgium, France, Germany, Spain and Switzerland. In the United States, Robeco has offices in New York, Boston, Greenbrae, Los Angeles, Honolulu and Toledo (Harbor Capital Advisors). Robeco also has an office in Bahrain and an office in Japan.
Robeco is the center for asset management within the Rabobank Group and has full operational independence. The combination of the highest credit ratings from the major international rating agencies and the highest Sustainability Cluster Score within the banking sector reflects the high added value Rabobank has always offered its investors, members, clients and employees.
Ronald Florisson, Robeco Corporate Communications
Office: +31 - 10 - 224 28 10
Mobile: +31 - 653 - 831 586
E-mail: ronald.florisson@robeco.com
