MENA Infrastructure, an infrastructure fund manager focused on the Middle East, North Africa and Turkey region, has sold its 30% stake in Egypt-based port terminal operator Alexandria International Container Terminal (AICT) to global port investor Hutchison Port Holdings.

Financial details of the transaction, which was completed on February 26, 2016, were not disclosed.

Jeronimo Roura, CEO of MENA Infrastructure, said: “Our successful exit from Alexandria International Container Terminals validate MENA Infrastructure’s investment strategy to partner with leading developers of essential private infrastructure in high growth markets. We are grateful to the management team at AICT for their continuous exceptional performance, and look forward to continue investing in the MENA region’s potential.”

Alexandria International Container Terminals (AICT) operates its terminals at Alexandria and El Dekheila, located on the Mediterranean Sea in Egypt.

Serving as the country's main commercial ports, Alexandria and El Dekheila Ports are well positioned to capture cargoes from the hinterland.

Alexandria Port is considered one of the largest and most important ports in the Mediterranean.
It's also one of the oldest, built around 2000 B.C.

Due to its crucial location; the Port of Alexandria handles almost 60% of Egypt's foreign trade according to Alexandria Port Authority (APA).

MENA Infrastructure had originally invested in AICT through its MENA Infrastructure Fund I in April 2008.

The MENA Infrastructure Fund I is sponsored by DIC Asset Management, a wholly-owned subsidiary of Dubai International Capital LLC, the international investment arm of Dubai Holding; HSBC Bank Middle East and Waha Capital PJSC, a leasing and infrastructure finance company.

All three sponsors of the MENA Infrastructure Fund I are also investors in the Fund.

Other investors comprise leading pension funds and financial institutions from across the MENA region and Europe.

Having successfully invested its first generation fund, the firm is now seeking to raise its second fund, MENA Infrastructure Fund II, targeting $ 500m in commitments.

MENA Infrastructure Fund II will have the same proven investment strategy as MENA Infrastructure Fund, and will target the same asset classes.

MENA Infrastructure targets a broad range of investments within the infrastructure asset class, including utilities, transportation, social infrastructure and public private partnerships.

Across this spectrum the firm makes investments in projects and companies in their early stages of development, as well as being a provider of capital to companies which are in their operational or growth phases.

MENA Infrastructure is a long term investor and seeks to work with leading developers and operators of infrastructure assets.

“There is an excellent pipeline for new investments and the Investment Team and Sponsors have a deep network across lead developers in the region, as well as solid reputation with governmental authorities,” said MENA Infrastructure.