Black Enterprise- A team of young managers formerly with hedge fund Brahman Capital is preparing to launch a fund in August to focus on Western European turnaround situations, the firm’s founder said.

Cara Goldenberg, a 27-year-old former star investor and partner at the $3 billion Brahman Capital, heads the new firm, called Permian Investment Partners. She is joined by former Brahman colleagues Alex Duran and Scott Hendrickson.

New York-based Permian hopes to raise some $200 million this year, mostly from wealthy individuals and families, said Ms. Goldenberg. The firm was seeded with what it said was a "sizable" investment from Privet Capital, a family investment firm.

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Black Enterprise- Naeem Holding, Egypt’s second-largest investment bank by market value, will start a 100 million Egyptian pound ($19 million) fund to buy stakes in firms planning public listings, its chief executive said on Wednesday [June 18].

The fund would buy stakes in up to eight companies in its first year ahead of their listing on Nilex, Egypt’s stock exchange for small and medium sized companies, Hany Tawfik told reporters. Naeem would finish raising money for the fund by mid-July, he said.

"The growth for small-cap funds generally outperforms other funds," Mr. Tawfik said.

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