CI Capital Holding, through its subsidiary CI Capital PE for Fund Management and Investment (CIPE), has partnered with Talaat Moustafa Group (TMG) to launch a new real estate investment fund under the name Awaed Real Estate Fund, with a target size of EGP 8bn. The fund will focus on investing in commercial units within the Madinaty development.

According to a disclosure by Egyptian Exchange on Wednesday, the fund’s ownership structure allocates 51% to CI Capital PE and 49% to the Arab Company for Projects and Urban Development, a subsidiary of Talaat Moustafa Group.

The fund operates under the supervision of the Financial Regulatory Authority, which played a key role in completing the procedures required for its establishment.

In its capacity as fund manager, CI Capital PE will oversee the overall management of the fund, including leading the contracting process with various service providers. It has also been agreed that one of Talaat Moustafa Group’s subsidiaries will undertake the development and sale of the real estate assets acquired by the fund.

Meanwhile, CI Capital for Promotion and Underwriting in Securities acted as the sole transaction coordinator, subscription bookrunner and lead financial adviser for the fund. The company also served as the exclusive financial adviser to Talaat Moustafa Group in the transaction.