Egypt’s largest asset manager Beltone Financial and African asset management house Altree Capital announced in a press statement Tuesday the formation of Altree Beltone Capital Ltd, a joint venture focused on delivering investment management and advisory services to local and international investors.
The financial services companies promised a strategic alliance “leveraging Beltone’s extensive middle East and North African footprint and Altree’s industry-leading African track record” to offer a wide range of asset management products to both institutional and retail investors.
"Altree Beltone Capital will manage equity investments across the region and serve as investment manager and advisor to the Altree Beltone Africa Opportunities Fund and Beltone Gems MENA Equity Fund," the companies explained.
Beltone Financial, whose headquarters are in Cairo, specialises 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.