TSFE
TSFE’s Subfunds
Chief Executive Officer
TSFE Healthcare & Pharma Subfund
Mr. Hisham is currently the Chief Executive Officer of TSFE TSFE Healthcare & Pharma Subfund.
During his 20 years of experience leading to this role, Mr. Hisham has provided a record of achievement in senior management positions, as a Managing Partner at Alpha Square Partners and earlier as Managing Director at the Abraaj Group for a total of 10 years, investing in healthcare businesses across Middle East, Africa and Indian Subcontinent.
He also has an impressive record in investment banking working at HSBC Dubai, KPMG-Doha, and Okaz Investments.
Mr. Hisham holds a bachelor’s degree in Accounting and Finance, 2000. He also holds the CFA Charterholder, 2003.
Chief Executive Officer
TSFE Infrastructure & Utilities Subfund
Karim is the Chief Executive Officer of the Utilities & Infrastructure Subfund at The Sovereign Fund of Egypt, leading the power, renewables, water, transport & logistics and digital infrastructure portfolio amongst others. Karim has twenty years of experience in investment management, project development & finance and Capital Markets transactions across the Energy and Infrastructure spectrum within the Middle East, Africa & South Asia. Karim’s previous experience include management and execution of a variety of projects development, Debt and Equity Capital Markets transactions, M&A activity, and private financings with local and regional institutions.
Prior to joining TSFE, Karim was leading the project financing and regional capital markets activities for GE Power in the MESA region. Past roles also include Managing Director at Qalaa Holdings, an African leader investing in energy and infrastructure, responsible for corporate finance activities across the group.
Karim holds a Bachelor of Science Degree in Construction Engineering from the American University in Cairo and an Executive MBA jointly from Columbia Business School and London Business School.
Chief Executive Officer
TSFE Tourism, Real Estate & Antiquities Subfund
Mr. Elhamy has 18 years of collective experience in the fields of Tourism, Hospitality projects development & Real Estate Development, Commercial, and Investment Banking.
In his early career life Elhamy has worked as a corporate banker with CIB The Commercial International Bank, Intesa San Paolo Bank of Alexandria specializing in Hotel Development project finance, Petroleum & Automotive sectors, afterwards he served as Vice President for Investment Banking at Dela Rasmala a JV between Deutsche bank, The Saudi American Bank & Delta Capital.
Afterwards Mr. Elhamy served as the CEO For The Sixth of October for Touristic Development Company for 11 years and Sat on the board of Dreamland For Real-state Development company, where he lead the turnaround and transformation story of a group comprising of 5 hotels ranging between City 5 star hotels & Sea front resorts where he applied years of Financial and industry experience to achieve the group's profitability targets & Expansion goals.
Mr. Elhamy Holds a BSC in Software Engineering from The Middlesex University, a Certificate & Global Operations and Logistics from Georgia State University, An Investment Banking certificate from Beltone Academy & A certificate in Real-estate Economics & Finance from The London School of Economics & Political Science
Chief Executive Officer
Mr. Ayman Soliman currently holds the position of Chief Executive Officer of TSFE.
Prior to joining TSFE, Mr. Soliman was the CEO of Gemini Holding. During his tenure at Gemini, he led multiple merger and acquisition transactions for the Gemini group, as well as startups and greenfield, to build a diversified portfolio of assets in technology, food, fashion, agroindustry, energy, financial services and fintech, media and real estate.
Before joining Gemini Mr. Soliman headed Orascom Telecom Holding’s corporate strategy team where he spearheaded the formulation of the business development and growth strategy for the company.
Mr. Soliman served as a board member of a wide range of companies with various capacities inclusive of Orascom Investment Holding, Beltone Financial, Lamancha Holding (Gold mining), Euronews plc, RiverBank (SME Banks in Europe), Auerbach Grayson (USA), Texegy (Oil & Gas USA), Ora Developers BV (Real estate), Nile Sugar Co (Egypt), and Ezdehar Fund.
Mr. Soliman holds an MSc. degree in International Business and Finance and a BSc. degree in Economics with a Minor in Computer Science, both from the American University in Cairo.
Chief Investment Officer
Mr. Abdalla ELEBIARY currently serves as the Chief investment officer at TSFE.
Since joining The Sovereign Fund of Egypt (TSFE) in May 2020, Mr. ElEbiary has spearheaded the Fund's investments in infrastructure & utilities, banking & non-banking financial services, healthcare, real estate and education. Mr. ElEbiary also led several financial advisory transactions for State Owned Enterprises in excess of $2 billion.
Before joining The Sovereign Fund of Egypt, Mr. ElEbiary was Managing Director of Qalaa Holdings (formerly known as Citadel Capital), an African leader in infrastructure and industry, for 14 years. At Qalaa Holdings Mr. ElEbiary led the investments in Nile river transportation / logistics, FMCG and Cement. On the M&A and financing side, Mr. ElEbiary led several transactions including the acquisition and divestiture of Qena Cement (LE 700 million), project finance and divestiture of Asec Menya Cement and Asec Ready Mix (LE 1.0 billion), acquisition of Rashidy El Mizan (Undisclosed Amount), greenfield project finance (LE 1.0 billion and $130 million) and structured finance products ($25 million). Mr. ElEbiary represented Qalaa Holdings in Investor Relations and brokerage local and international conferences and was in charge of corporate governance of the Qalaa Holdings and subsidiaries’ boards.
As of 2016 and to-date, Mr. ElEbiary is the Chairman of the Egyptian Private Equity Association, EPEA. EPEA is an NGO that represents and serves private equity and venture capital investors and service providers to the industry in Egypt. Under his leadership, EPEA expanded its scope to include Venture Capital and expanded its educational offering, including launching the first Private Equity Diploma in collaboration with the American University and The Sovereign Fund of Egypt.
Prior to that, Mr. ElEbiary was a banker with the Investment Banking Division of Merrill Lynch in New York, where he participated in Merger and Acquisition transactions, in addition to public and private financing of telecom and media companies in the US and Europe. Previously, he was Business Analysis Manager at the Corporate Finance Department of the MeadWestvaco Corporation in New York. Mr. ElEbiary also spent five years with Procter & Gamble’s Finance Group, his last post was Finance Group Manager - Internal Control for Egypt, Lebanon and East Africa.
Mr. ElEbiary has served on a number of board of directors such as the Egyptian Private Equity Association, currently Chairman, Renaissance Capital Egypt, Qena Cement, Zahana Cement (Algeria), Djelfa Cement (Algeria), AlTakamol Cement (Sub-Saharan Africa), ASEC Engineering, ElRashidi ElMizan and Nile River Transportation.
Mr. ElEbiary holds a BA in Economics from the American University in Cairo, an MBA from Columbia University in New York and is Certified in Management Accounting. Mr. ElEbiary was awarded the American University of Cairo’s Distinguished Alumni Award in 2018.
Chief Financial Officer
Mr. Ahmad FAWZY currently serves as the Chief Financial Officer at TSFE.
Before joining The Sovereign Fund of Egypt in March 2020, Mr. Fawzy was the Group Chief Financial Officer in ElSewedy Industries Group. Mr. Fawzy was co-leading the corporate structure transformation from a family business model into a more established sustainable corporate structure with well-defined discipline & controls.
Prior to that, Mr. Fawzy was IKEA Saudi & Bahrain Chief Financial Officer, Halwani Bros Group Chief Financial Officer in Jeddah, Finance Group Manager – Financial Planning for Middle East & Africa with Procter & Gamble’s Finance Group.
Mr. Fawzy holds a BA in Accounting & Business Administration from Cairo University English Section in 1995.
Chief Strategy & Business Development Officer
Ms. Noha Khalil currently serves as Chief Strategy & Business Development Officer at TSFE.
Ms. Khalil held the position of Chief Investor Relation Officer at TSFE from 2020 to 2022.
Ms. Khalil’s previous position was Co-Founder and Vice President at Accelero Capital, an investment and management group based on telecommunications, digital media, and technology (TMT). During her tenure at Accelero, Mrs. Khalil played a pivotal role in turning around public and private companies, restoring growth and profitability in markets across the Middle East, Europe and North America.
Prior to joining Accelero Capital, Noha was Investor Relations Director of Orascom Telecom Holding S.A.E. and Deputy Group Director Investor Relations of VimpelCom Ltd. She was also Vice-President for Pharos Investment Banking, S.A.E., Financial Manager of LINKdotNET, and Online Trading Manager at ArabFinance.
Ms. Noha is the recipient of the Middle East Investor Relations Society Award for Best Company Representative.
She holds a Bachelor of Commerce from McGill University.
Chief Human Resources Officer & CEO Education, Food & Agriculture.
Mr. Ihab Rizk currently serves as the Chief Human Resources Officer at TSFE
Mr. Rizk also plays an investment role as CEO Education, Food & Agriculture. Previously, Ihab Rizk was the Head of Human Resources at Qalaa Holdings, an African leader in energy and infrastructure for fourteen years.
Prior to joining Qalaa Holdings, Mr. Rizk was Human Resource Manager and later Commercial Manager at Fayrouz International, a subsidiary of Heineken International. He has also previously held positions as Senior Recruitment and Retention Specialist for LINKdotNET (LDN) and in Customer Operations at Shell Marketing.
Mr. Rizk holds a BA in Economics & Business Administration and an MBA from the American University in Cairo and has been a fellow of the Chartered Institute of Personnel and Development (CIPD) since 2012. While still a student, Mr. Rizk was founder and first president of the International Conference on Global Economy (ICGE), the largest national student conference on economics and the first of its kind in Egypt.
General Counsel
Mr. Mohmoud Moharram currently serves as the General Counsel of TSFE.
Mr. Moharram has more than 17 years of experience with some of Egypt’s and the region’s key companies including advising on several major projects and transactions across several industries in Egypt, Africa, the MENA region, and globally.
Mr. Moharram has significant experience in the fields of construction, energy, infrastructure, project finance, mergers and acquisitions, technology, media, and telecommunications (TMT) and complex corporate litigation.
Before joining the Sovereign Fund of Egypt, Mr. Moharram’s served as Partner at Youssef and Partners, Founding Partner at Moharram Law Firm, General Counsel at Egypt Kuwait Holding Company, General Counsel at Orascom Construction, Public Prosecutor and Junior Associate at AMMH Law Firm.
Mr. Moharram holds Bachelor of Laws, Law School English Section, Cairo University, an LLM from Northwestern School of Law in Chicago and a certificate in Business Administration from IE Business School in Madrid.