Egypt’s largest asset manager Beltone Financial Holding (BTFH.CA) has announced Thursday that the initial capital of thenewly-established firm Altree Beltone Capital Ltd. will be $ 50.000.
Worth mentioning, Beltone Financial and Altree Capital, the award-winning African asset management house, announced Tuesday the formation of Altree Beltone Capital Ltd., a joint venture focused on delivering investment management and advisory services to local and international investors. Each firm owns 50% of Altree Beltone Capital Ltd stakes.
By leveraging Beltone’s extensive Middle East & North African footprint and Altree’s industry-leading African track record, the newly-established firm will offer a wide range of asset management products to institutional and retail investors across the globe.
This strategic alliance brings together award-winning investment performance, best-in-class research capabilities and unparalleled local resources across Africa and the Middle East. Altree Beltone Capital will manage equity investments across the region and serve as Investment Manager / Advisor to the Altree Beltone Africa Opportunities Fund and Beltone Gems MENA Equity Fund.
Beltone Financial, whose headquarters are in Cairo, specializes in investment banking, private equity, securities brokerage, custody and research. It boasts Egypt’s largest asset management arm with a Brokerage sector, reportedly ranking number 1 in trading in the first half of 2012.
Altree Financial, which owns Altree Capital, is an integrated financial services group focused on corporate finance, trust and fiduciary services, fund administration and market data that independently owns a number of financial service subsidiary companies across Africa.
