Altree and Beltone Announce Joint Venture

Altree Capital and Egypt’s Beltone Financial have launched a joint venture, Altree Beltone Capital, to deliver investment management services to domestic and global investors.

In a press statement issued on Tuesday 21 August, the asset managers announced the formation of the new company, adding that 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. 

We are excited by the opportunity to establish Altree Beltone Capital as one of the Middle East and Africa region's pre-eminent asset management firms,” read a company statement. “By leveraging Beltone's extensive Middle East & North African footprint and Altree's industry-leading African track record, the firm will offer a wide range of asset management products to institutional and retail investors across the globe.”

Cairo-based Beltone Financial offers asset management, investment banking, private equity, securities brokerage, custody and research services. It is Egypt’s largest asset manager with AUM of more than $4bn.

Altree Capital is a wholly owned subsidiary of Altree Financial, an integrated financial services group with offices throughout Africa, Asia, Europe and the Americas. The company independently owns and operates a number of premier financial service subsidiary companies across Africa, specialising in asset management, corporate finance, trust and fiduciary services, fund administration, global custody and market data and research.