VOL. XL

No. 22

2-June-1997

EGYPT

New Investment Fund In Egypt

Alliance Capital Management (ACM) and Commercial International InvestmentCompany (CIIC), a subsidiary of Commercial International Bank (CIB), announced on 26 May that theyare forming a new joint-venture offshore mutual fund investing in Egyptian equities. The NileGrowth Fund Company is hoping to raise $100mn when subscription closes on 3 June. INGBarings will promote the fund, which will be managed by the newly-formed joint-venture...