1Beltone Financial Credentials | September 2015 www.beltonefinancial.com
LeadingTransformation
CREDENTIALS September 2015
2Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Our Mission
Beltone is a catalyst in the MENA region, innovatively leveraging synergies to benefit stakeholders
Our VisionEnriching individual, corporate and community wealth by engaging in transformational relationships
3Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Our Values
Beltone’s culture is the source of empowerment that drives transformation in our clients and the financial community we serve
4Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Our Company
* Affiliate of
Beltone Financial
Holding
Cairo
Cairo
Cairo
Dubai
Cairo
London
Cairo
Tripoli Benghazi
Cairo
New York
Cairo
BeltoneInvestment Banking
Beltone Fund AdministrationCompany
BeltoneAsset Management
BeltoneFinancial Emirates
Beltone Fixed Income
BeltoneFinancial UK
Beltone Private Equity*
BeltoneFinancial Libya
Beltone Securities Brokerage
Beltone Financial USA
BeltoneSecurities Holding
Beltone Financial Holding
5Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Our Business
• Fastest growing AUM in Egypt
• Invests in attractive industries with capable management characterized by a sustainable competitive advantage
• Unique MENA focus for advisory and capital raising
• Expert regional knowledge• Expanding coverage of companies
and key industry sectors across MENA
• Multiple MENA markets access• MiFID compliant institutional offering
• Client’s assets held under direct operational control for rapid and seamless execution
• Fastest growing AUM in Egypt
Asset Management
Private Equity*
Investment Banking
Research
Brokerage
Custody
Fund Administration
More than
30 bnE£ under management
More than
4 bnE£ in asset value
More than
100 bnE£ in transactions
Research covering
Over 70companies
In Egypt
Rank #1In Trading 1H 2014
14.5 bnE£ in Custody
More than
20 bnE£ in Administration
Full range of investment banking services
* Affiliate of Beltone Financial
6Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Our Reach
2799%
23.38%
18.26%
7.74%
22.62%
Egypt Financial Investors
Management
Private Equity Investor
GCC Financial Investors
Free Float
...Supported by a solid shareholder baseA collaborate shareholder base with a common interest of business growth and development
Firm wide reachA network of offices linking clients from every corner of the world to every market in MENA
Beltone offices Spanning the Globe
• Cairo•Dubai
•NewYork•Tripoli
•Benghazi•London
Head Quarter Offices
7Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Investment Banking
8Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Investment Banking
E£100.3 billion* in 52 transactions closed over the past twelve years• Unparalleled MENA market expertise
• Financial advisory and capital-raising services
• Scrupulous state-of-the-art investment banking practices
• Expertise advising and supporting family groups in strategic transformation
• Assisting clients on cross-border initiatives: International players seeking opportunities in MENA or MENA-based companies looking for international expansion or funding
M&A transactions
• Mergers
• Acquisitions
• Divestitures
• Corporate restructuring
• Leveraged buyouts
Capital and debt-raising transactions
• Initial Public Offerings
• Private placements
• Debt-structuring
Investment Banking growth 2004 to dateTransaction volumes in E£ billion
* As of September 30th, 2015
2004 0.4
2005 0.8
2006 2.6
2007 4.0
2008 20.8
2009 14.1
2010 12.9
2011 1.2
2012 20.3
2013 20.8
2014 0.5
YTD* 1.8
9Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
E£ 16.7 bn tender offer by Orascom Development Holding AG resulting in 98% acquisition of Orascom Hotels & Development via a share swap with a cash option. Beltone acted as the sole financial advisor for the company in the tender offer in the largest tender offer in Egypt with around 98% of shareholder opting for the swap thus reducing the financing burden on the company
Orascom Development Holding AG
16.7bnE£ Acquisition
• The global offering of Amer Group, a leading real estate developer in Egypt. Beltone, as the Sole Global Coordinator and Bookrunner, advised the business on a complete corporate and organizational restructuring culminating in raising USD 200 million in expansion capital and secondary share sales.
• Beltone succeeded in attracting significant western institutional demand for the offering, demonstrating strong placement capabilities with international investors.
Initial Public Offering of Amer Group
1.1bnE£ Initial Public Offering
• E£ 20.2 bn tender offer by France Telecom resulting in 94% acquisition of Egyptian Company for Mobile Services - Mobinil.
• Beltone was responsible for transaction structuring advisory on behalf of France Telecom. The transaction represented the largest equity deal executed in the MENA region during 2012.
Tender Offer by France Telecom
20.2bnE£ Acquisition
10Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
Beltone advised on the sale of 99.6% of Samcrete Egypt Contractors & Engineers to Samcrete for Engineering Investments through a share swap for a total consideration of E£ 4.1 bn
Samcrete Egypt
4.1bnE£ Acquisition
Beltone jointly advised ENPC, a fully owned entity by Misr Fertilizer Production Company, on the project finance syndicated facility of USD 1.1 billion for the construction and operation of 2 urea/ammonia production trains. It is considered to be the largest transaction to be fully underwritten by local Egyptian banks. Signing of the loan agreement and drawdown occurred in Dec.09
ENPC
5.8bnE£ Project Financing
Beltone acted as the sole financial advisor for EAgrium on its USD 2.5 billion merger with Misr Oil Processing Company (MOPCO). Beltone advised EAgrium throughout the negotiations with MOPCO with respect to valuation and deal structuring. Beltone also advised the merged entity on a USD 120 million bridge debt-financing
EAgrium’s merger with MOPCO
14.1bnE£ Project Financing
11Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
CHF 190 million initial public offering for Orascom Development Holding AG. Beltone is the first Egyptian company to co-manage a global public offering for a European based company, Beltone also was the sole listing advisor for the company in Egypt
Orascom Development Holding AG
969mE£ capital increase
The bond offering of GB Auto, the leading automotive player in the Middle East. Beltone advised the publicly listed company on the issuance and listing of an EGP 1.0 billion non-convertible bond
Bond Offering of GB Auto
1.0bnE£ Bond Offering
The global offering of GB Auto, the leading automotive player in the Middle East. Beltone advised the family business on a complete corporate and organizational restructuring culminating in raising E£ 1.27 billion in expansion capital in 2007’s most successful IPO in Egypt
Initial Public Offering of GB Auto
1.27bnE£ Capital Increase
12Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
E£ 734 million share swap between Amwal Arabia and Arabia Cotton & Ginning Company. Beltone engineered a complex capital markets solution to the shareholders of both companies, which created the leading integrated textiles player in the Middle East
Amwal Arabia and Arabia Cotton & Ginning Company
734mE£ share swap
Abraaj Capital Ltd acquired Cairo Medical Tower Laboratory S.A.E (Al Borg Laboratories) for a total consideration of EGP 778 million. Beltone counseled Abraaj on a strategy to pre-empt a rival bid and executed in a notably short time period
Abraaj Capital/Al Borg Laboraties
778mE£ Acquisition
13Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Acquisition of 58% of AMECO Medical Industries via a mandatory tender offer
Sole Financial Advisor
December 2014
The sale of 100% of Nakhla Tobacco Group to Japan Tobacco International
Financial Advisor
March 2013
E£ 1,130,000,000(USD 189,597, 315)
Egyptian Chemical Industries KIMA
Rights Issue
Exclusive Financial AdvisorSeptember 2011
E£ 1,315,000,000 & USD 212,800,000
Egyptian Chemical Industries KIMA
Syndicate Facility
Exclusive Financial Advisor
September 2013
Financing Transactions Capital Markets, M&A and Corporate Advisory
E£ 506,074,105 (USD 70,288,105)
Public Offering
Joint Global Coordinator and Bookrunner
December 2014
Sale of minority stake to European
Bank for Reconstruction &
Development (EBRD)
Sole Financial Advisor
May 2015
E£ 440,000,000(USD 80,000,000)
Joint venture between GB AUTO and Al-Kasid Group of Companies
Exclusive Financial Advisor
February 2010
E£ 312,000,000(USD 56,727,273)
Capital Raising
Exclusive Financial Advisor
May 2010
14Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Asset Management
15Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Strong Track Record
Beltone Asset Management is the leader in its industry, with assets under management in excess of E£ 30 billion*, driven by our capacity to continuously introduce innovative products
Wide range of product offeringsThrough our knowledge in launching and managing funds, we have gained the experience of the regional asset management business which enabled us to develop innovative products that cater to varying risk-return profiles
* As of September 30th, 2015
• From Money Market to leveraged Equity • From Plain Vanilla to Structured Products • From Morocco to Oman • From Conventional to Islamic
Money Market
Fixed Income
Capital Guaranteed
Balanced
EquityLeveraged Equity
Risk
Retu
rn
Remarkable industry experience catering to all investor profiles
More than 15 years of regional expertise
• Bahrain • Egypt • Libya • Lebanon • Jordan • KSA • Kuwait • Morocco • Oman • Qatar
• Tunisia • UAE
16Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Milestones
Assets under management grew at a CAGR of 35% becoming the largest manager in Egypt
More than
30bnE£ under management
Largest Money Market player in Egypt with a market share of 37%
Banque Misr MM Fund awarded best treasury & cash management provider 5 times in a row
Product innovation, offering the 1st money market account, technical fund & ESSP
Advised CBE on the est. of its RMU & managed our first MENA portfolio for one of the largest SWF
Others
63%
BAM
37%
17Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Fund Offerings
• Provides daily liquidity while preserving capital• Cash flow management tool• Daily subscriptions & redemptions• Interest accumulated daily• Invest in secure short term interest bearing securities• Low initial subscription with minimum thereafter and no maximum• Accessibility benefits similar to current accounts• Returns are tax exempt
• Provides daily liquidity while preserving capital• Cash flow management tool• Daily subscriptions & redemptions• Interest accumulated daily• Invest in secure short term interest bearing securities• Low initial subscription with minimum thereafter and no maximum• Accessibility benefits similar to current accounts• Returns are tax exempt
MONEY MARKET
CURRENCY MM
صندوق إستثمار “كل يوم”
إستثمار ص��ن��دوق “الشركة المصرفية
العربية الدولية”
صندوق إستثمار “ح��ص��ن األم����ان
اليومي”
إستثمار صندوق ظبى ابو “مصرف االسالمى - مصر”
صندوق إستثمار “ي�وم�ات�ى”
صندوق إستثمار“م�����زاي������ا”
GOLDSILVER
USD Euro
ح������ص������ن أم���������������ان ل����ل����م����الي����ي����ن
18Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Fund Offerings
• Investing in companies listed in Egypt
• Exposure to Egypt which is positioned for long term growth
• A minimum of 70 % of the fund to be invested in listed securities
• Daily subscriptions & weekly redemptions
• No minimum initial subscription
• Invests in Egyptian equities & Fixed Income
• Exposure to Egypt; positioned for growth
• Benefit from diversification and smoothing of market volatility
• Weekly subscriptions & redemptions
• Minimum initial subscription of EGP 10,000
• Periodical distribution of dividends
• Invests in companies listed in MENA
• Exposure to MENA which is positioned for long term growth
• Invests up to 10% in pre-IPOs
• Safe Haven provision• Low minimum entry of USD
10,000 • Weekly subscription &
redemptions
• Invests in companies listed in Egypt
• Exposure to Egypt which is positioned for long term growth
• A management style dependent on technical views to benefit from market trends
• Weekly subscriptions & redemptions
• Minimum initial subscription of EGP 5,000
EQUITY / BALANCED
19Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Saving Plans
• Improve employees’ safety net• Attract & retain calibre employees• Simple structure & easy implementation• Flexibility in customizing corporate
contribution• Flexible plan by-laws and vesting rules• Off balance sheet• Reduce or limit corporate liability and
obligations• Ability to meet new labor law requirements
• Maximize net-worth at retirement• Tax-deductible savings• Tax-free payment at end of service• Gain of company contributions• Capital protection and return maximization• Employee involvement and oversight by
BOT• Simple to understand• Individual accounts, semi-annual reporting
• Offering expertise in managing a diverse portfolio of insurance products for more than 4 years
• Building and protecting the wealth and security of individuals and businesses
• Launching innovative savings products aimed at satisfying client needs
EMPLOYER BENEFITS EMPLOYEE BENEFITS
INSURANCE SAVING PRODUCTS
END OF SERVICE SAVING PLAN
...a matter of life
Egyptian Cement Company
20Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Portfolio Offerings
EQUITY LONG TERM CAPITAL APPRECIATION
FIXED INCOME CAPITAL PRESERVATION
Country Specific Investing in securities on any regional stock exchange of a specific country
Sector Specific Investing in securities on any regional stock exchange of a specific sector
Regional Investing in securities on any regional stock exchange of the MENA region or a sub-set of the MENA region
Sharia’a compliant Investing only in Shari’a compliant securities listed and traded on the stock exchanges
Indexed Investing entirely in equities listed in an acceptable index
Technical Investing in securities using a technical and momentum driven trading systems
Duration Specific Investing in fixed income instruments with a catered duration (short - long term)
Corporate Bond Investing conventional MENA corporate bond issues of credible issuers
Sukuk Investing in corporate and government Sukuk issues of credible issuers
Money Market A current account with competitive daily interest investing in secure, high yielding, short-term interest bearing instruments denominated in (EFG,USD, Euro)
21Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Portfolio Offerings
OTHER
DEFINING THE CLIENT PROFILE BENEFITS
Balanced Investing 40-60% of funds to equity holdings and 40-60% in fixed income vehicles
Dynamic Asset Allocation Periodic shifting of assets between stocks, bonds, and cash based on a quantitative process
Capital Protected Investing in a regional equity index and capital preservation through dynamic asset allocation (Delta Hedging)
Protected Returns Perpetual rolling structure combined with dynamic asset allocation strategies to continuously lock in client returns
Risk and return objectives and constraints are defined and subject to Client’s specific requirements
INVESTMENT OBJECTIVE
INVESTMENT CONSTRAINTS
OPTIMAL CLIENT MANDATE
• Risk
• Return
• Time horizon
• Tax consideration
• Legal & regulator
• Liquidity constraints
• Unique requirements
RELATIONSHIPMANAGEMENT
CATERED REPORTING
FREQUENT REVIEWS
EXTENDED FLEXIBILITY
22Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Diligent Investment Process
Specialization and focus, combined with Beltone’s Country-Country-Sector (CCS) value added fundamental process result in lucrative stock selection and exceptional performance
FUNDAMENTAL APPROACH WITH THE MAIN ALPHA DRIVERS
SPECIALIZATION AND FOCUS DILIGENT INVESTMENT PROCESS
Specialized independent departments supporting a focused Portfolio Manager, scrutinized by internal audit and compliance
Country focused portfolio managers & sector driven analysts create a ‘top down’ approach with a ‘bottom up’ over-lay implemented and monitored through daily, weekly and monthly meetings
23Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Securities Brokerage
24Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Securities Brokerage
Beltone Securities focuses on institutional investors located in the US, Europe and the Middle East region. The company has created two segregated teams to focus on Wealth Management for high-net-worth individuals, and equity execution for retail clients. Beltone Securities provides seamless execution and settlement in several markets by leveraging a strong proprietary network as well as its strategic partnerships across the globe.
25Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Securities Brokerage
Single broker contact available in markets with Beltone presence
Brokerage clients• US• UK• Ireland• Germany• Switzerland
• Egypt• France• Kuwait• KSA• UAE
• Bahrain • Qatar • South Africa
over 1,200 clients worldwide
GEOGRAPHIC REACH
•Egypt
•UK
•Dubai
•USA
•Libya
26Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Geographic Exposure
Beltone Financial operations extend across the MENA region, Africa, Europe and North America. Expansion plans exist to tap into the US and UK markets
Physical presence
Execution presence
27Beltone Financial Credentials | September 2015 www.beltonefinancial.com
2009Beltone Financial´s
1st MENA Conference inNewYorkMiddle East & North Africa Investments18th - 19th May, 2009
2010Beltone Financial´s
1st MENA Conference in QatarMiddle East & North Africa InvestmentsDoha, 22nd - 23rd February, 2010
2010Beltone Financial´s
2nd MENA Conference inNewYorkMiddle East & North Africa Investments24th - 25th May, 2010
2012
2008Beltone Financial´s
First Egypt Day inNewYorkMiddle East & North Africa Investments4th - 5th February, 2008
2008Beltone Financial´s
Future Trends in EgyptMiddle East & North Africa InvestmentsLondon, 23rd - 24th June, 2008
Four Seasons Nile plaza, Cairo September 24-26, 2012
A New Dawn
Corporate Access
Worldwide Events and Roadshows
Beltone Financial hosted a series of widely acclaimedinvestmentconferencesinNewYork,London and Doha. The company has held three conferencesincoordinationwithNewYorkStockExchange, three corporate access days in London, in addition to two investor’s conferences in Doha sponsored by the Qatar Exchange focusing on investment opportunities across MENA region. The events allowed investors to meet with the heads of listed companies from the Middle East on a one-on-one basis to demonstrate the fundamentals for strong, long-term growth and profitability.
Moreover, Beltone arranges for road-shows around the globe to reach both its current and potential clients. In addition, the research department arranges for periodic client conference calls with sector analysts and the management teams of listed companies, and along with the sales team, continuously meet with the management of the listed companies
28Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
E£ 11.6bnJune 2014
BARWA Egypt Real Estate
E£ 372mDecember 2009
Heinz
E£ 16.6bnMarch 2013
Qatar National Bank
E£ 1.1bnNovember 2010
AMER Group Holding
E£ 20bnMay 2012
France Telecom
E£ 1.0bnMay 2010
GB Auto
29Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
E£ 2bnDecember 2009
Orascom Development Holding AG
E£ 4.1bnDecember 2009
Samcrete Egypt
E£ 15bnNovember 2009
Lafarge Building Materials Holding
E£ 15bnNovember 2009
Lafarge Cement Egypt
E£ 300mAugust 2009
Brawa Real Estate
E£ 3.5bnJune 2009
Egyptian Fertilizer Company
30Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
E£ 1.1bnMarch 2009
Bank of Alexandria
E£ 15bnJanuary 2009
EAgrium merger with MOPCO
E£ 387mJune 2008
Sprea & Plastichem
E£ 483mJune 2008
El Nasr Clothing (Kabo)
E£ 778mMay 2008
Abraaj Capital/Al Borg Laboraties
E£ 16.7bnMay 2008
Orascom Development Holding AG
31Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Landmark Transactions
E£ 9.2bnOctober 2006
Bank of Alexandria
E£ 340mMay 2005
RAYA Holding
32Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Beltone Securities Holding
Currently more than E£14.5 billion* investors benefit from fast execution and settlement through the efficient receipt, delivery and safekeeping of securities, cash and foreign exchange
Beltone Securities Holding gives clients the benefit of their assets held under direct operational control for rapid and seamless exectution
The Custody team comprises highly qualified industry specialists with experience in leading regional and international investment banks.
Beltone Securities Holding is regulated by the Egyptian Capital Market Authority. Assets and processes are in compliance with all regulations in the diverse markets in which Beltone operates.
• Safe custody of assets
• Income and dividends collection
• Corporate action processing
• Proxy voting processing
• Standard custody reporting
* As of September 30th, 2015
33Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Research
34Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Reports
Beltone’s Research Department is acknowledged as the authoritative source for qualitative and quantitative information on the MENA region’s rapidly expanding capital markets. By the end of 2015, coverage will extend across the different sectors within the region, to reach more than 75 stocks.
GENERAL MARKET PRODUCTS COMPANY-SPECIFIC PRODUCTS
BELTONE RESEARCH PRODUCTS
SECTOR-SPECIFIC PRODUCTS
• MENA Morning Bell, that covers regional daily news
• MENA Closing Bell that covers regional markets’ daily performance
• MENA Weekly Screen
• Daily Traders Corner, that covers regional technical analysis
• Initial Coverage Reports
• Company Update Reports
• Company Newsflash Reports
• Sector Reviews
• Regional Economic Research
• Regional Strategy Research
• Thematic Research
* All reports on Egypt are produced in English and Arabic
35Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Strategy Macro Financials IndustrialsConsumer &
ServicesTelecom Real Estate TOTAL
Egypt 6 7 12 3 3 31
Saudi Arabia 8 5 3 2 -- 18
UAE 6 2 -- 2 1 11
Qatar 4 1 1 1 -- 7
Kuwait 2 -- -- -- -- 2
Oman 2 -- -- -- -- 2
Lebanon -- 2 -- -- -- -- 2
TOTAL -- 30 15 16 8 4 73
Company Coverage | MENA Region Research Publications
Coverage
2005 5 2005 5
2006 12 2006 44
2007 31 2007 69
2009 58 2009 131
2011 63 2011 272
2008 53 2008 92
2010 56 2010 147
2012 69 2012 310
2013 70
2014 73
2013 353
2014 531
* As of September 30th, 2015
2015* 73 2015* 481
36Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Countries Covered and Distribution
Covered by research
Research distributed
•Algeria•Austria•Bahrain•Belgium•Canada•Chile•Cyprus•CzechRepublic•Denmark•Egypt• •Libya•France•Germany•Greece•HongKong•Italy•Japan•Jordan•KSA•Kuwait•Lebanon•
Malaysia•Netherlands•Norway•Oman•Pakistan•Philippines•Qatar•SouthAfrica•Switzerland•Syria• •Thailand•Turkey•UAE•UK•Ukraine•USA•Yemen•
38 countries
37Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Beltone Private Equity
38Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Introduction
Diligent Investment Approach
Successful Origination Platform
Innovative Investment Strategies
Unmatched Access to Proprietary Deal Flow
Wide-Ranging Investment Expertise
Best Investment Practices and Proven Track Record
Experienced Management Team
Strong Local Network and Infrastructure
Value PropositionOne of the fastest growing private equity investment platforms in Egypt
EGP 10.3bn Investments under control
EGP 4.1bn Equity assets under management
EGP 2.1bn Equity capital deployed across portfolio companies
EGP 0.6bn Distributions to investors
26 Portfolio company investments (including 8 exits)
12 Different industry sectors
23Qualified investment and support professionals with more than 300 combined years of experience
39Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Evolution
# of Investment Vehicles
Assets Under Management (EGP million)
2006
1
466 1,202 1,582 1,8782,333 2,333 2,043
2,9303,200
4,063
4 63 5 4 6
20092007 20102008 2011 2012 2013 2014 2015
• Established in 2006, Beltone Capital is BPE’s flagship vehicle investing opportunistically in Egyptian companies with strong, capable management and significant growth prospects. Investments are typically structured with control through majority stakes either alone or in partnership with co-investors
• Beltone Investment Group (“BIG”), a co-investment vehicle, was established in 2007 to invest alongside Beltone Capital in a controlling stake in Madinet Nasr for Housing and Development (MNHD.CA), a leading publicly-traded middle income real estate developer
• Beltone Retail is a specialized investment vehicle committed to consolidate successful retail operations and franchises with a focus on the Egyptian retail sector
• Established in 2008, Al Ismaelia for Real Estate Investment is a specialty real estate investment vehicle focused on acquiring, refurbishing and leasing prime real estate assets in Downtown Cairo
• Established in 2009, Beltone Midcap Fund targets investments in the SME sector in Egypt. It is co-managed with Siparex Group, a leading French private equity SME specialist
• Capital Partners for Tourism Ltd., a co-investment vehicle, was established in 2010 to invest alongside Beltone Capital in Pickalbatros Hotels and Resorts, a leading budget hotel owner and operator in Egypt and Morocco
•With the exit from Pickalbatros Hotels and Resorts in 2011, Beltone Private Equity exited Capital Partners for Tourism Ltd.
•Beltone Private Equity exited from Beltone Retail in 2011
•BPE Energy Ltd., a co-investment vehicle, was established in 2013 to invest alongside Beltone Capital in TOTAL Egypt, the leading oil and gas company in Europe
•BPE Power Ltd., an investment vehicle, established in 2013 to invest in PGESCo, a leading provider of engineering, procurement, project and Site management services to electric power plants
40Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Current Portfolio Investments
Status: Current
Vintage Year: 2014
Ownership: 5%
Status: Current
Vintage Year: 2013
Type of Transaction: Growth Capital
Ownership: 19%
Status Current
Vintage Year: 2006
Type of Transaction: Growth Capital
Ownership: 63%
Status Current
Vintage Year: 2013
Type of Transaction: Growth Capital
Ownership: 40%
Status Current
Vintage Year: 2008
Total Commitment: EGP 380 million
Total Investment: EGP 285 million
Status Current
Vintage Year: 2006
Type of Transaction: Buyout
Ownership: 47%
Status Current
Vintage Year: 2013
Type of Transaction: Buyout
Ownership: 40%
Status Current
Vintage Year: 2012
Type of Transaction: Growth Capital
Ownership: 24%
Status: Current
Vintage Year: 2006
Type of Transaction: Buyout
Ownership: 31%
41Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Exited Portfolio Investments
Status Exited in 2013
Vintage Year: 2011
Type of Transaction: Growth Capital
Ownership: 76%
Status Exited in 2012
Vintage Year: 2009
Type of Transaction: Growth Capital
Ownership: 38%
Status Exited in 2007
Vintage Year: 2006
Type of Transaction: Pre-IPO
Ownership: 1.4%
Status Exited in 2011
Vintage Year: 2009
Type of Transaction: Growth Capital
Ownership: 24%
Status Exited in 2009
Vintage Year: 2007
Type of Transaction: Greenfield
Ownership: 6.5%
Status Exited in 2014
Vintage Year: 2012
Type of Transaction: Growth Capital
Ownership: 63%
Status Exited in 2011
Vintage Year: 2008
Type of Transaction: Growth Capital
Ownership: 55%
Status Exited in 2010
Vintage Year: 2006
Type of Transaction: Growth Capital
Ownership: 30%
42Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Beltone Academy
43Beltone Financial Credentials | September 2015 www.beltonefinancial.com
Beltone Academy
The Beltone Academy, first established in 2007, ensures the constant flow of excellent talent into Beltone. Out of hundreds of applicants, only the top 20 are selected after rigorous testing and interviews. The academy courses are designed to develop their experiences and skills to pursue their careers in the financial services industry.
• Develop a world class financial services industry in the MENA region
• Taking a leadership role to develop a core of top-notch professionals
• Investing time and resources to identify and mentor future leaders
• Sharing Beltone’s global knowledge, skills and experience
• Offering young people unrestricted opportunities
• Contributing to MENA’s overall economic growth