# Sphinx Private Equity Management

Sphinx Private Equity Management is a Private Equity based in Cairo, Egypt.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Cairo, Egypt
- **Region:** Middle East
- **Address:** Cairo, Egypt
- **Founded:** 2004
- **Assets under management:** USD 250 million (per the firm
- **Website:** sphinxegypt.org

## Regulatory record

- **Reports private funds:** No

## About

Sphinx Private Equity Management (Sphinx) is a leading Cairo based private equity management company with over USD 250 million in funds under management and a proven track record of investing in medium-sized companies. It was established in 2004 by Citadel Capital with Marianne Ghali to manage mid cap buyout funds in Egypt. Sphinx manages the Grandview Investment Holdings Fund and the Sphinx Turnaround fund, and its team also manages the Karnak Investment Fund and University Educational Endowment Funds through Pharos.

## Sectors

- Manufacturing
- Diversified

## People

- Marianne Ghali — Co-founder

## Questions

### What is the relationship between Sphinx Private Equity Management and Citadel Capital?

Sphinx was established in 2004 by Citadel Capital, the leading private equity firm in the Middle East and Africa, alongside Marianne Ghali. Citadel Capital sponsored Sphinx specifically to manage mid-cap buyout funds in Egypt, making Sphinx a dedicated platform within the larger Citadel ecosystem. The Sphinx team also manages certain endowment funds through Citadel Capital's portfolio company Pharos.

### Which types of investment strategies does Sphinx execute?

The firm pursues buyout, growth, recapitalisation, and turnaround strategies. It operates through dedicated fund vehicles such as the Grandview Investment Holdings Fund and the Karnak Investment Fund. The mandate targets medium-sized companies, with a specific capability in distressed and turnaround situations through the IFC and EIB-sponsored Sphinx Turnaround Fund.

### Which institutional investors have backed Sphinx's funds?

The International Finance Corporation (IFC) and the European Investment Bank (EIB) participated in the first closing of the Sphinx Turnaround Fund, a USD 100 million vehicle targeting distressed assets in multiple sectors of the Egyptian economy. This marks a notable vote of confidence from two major development finance institutions in Sphinx's local execution capabilities.

### Can you provide an example of a realized exit from the portfolio?

The Karnak Investment Fund led a consortium that completed a strategic sale of a local electric cables manufacturer to Spain's General Cable. The exit generated a total of USD 21.7 million, demonstrating the firm's ability to create value in the Egyptian mid-cap manufacturing sector and execute a sale to a strategic international acquirer.

### Does Sphinx invest outside of Egypt?

The firm's public disclosures and fund mandates are explicitly focused on Egypt. All noted fund vehicles, including the Grandview Investment Holdings Fund, Karnak Investment Fund, and the Sphinx Turnaround Fund, target Egyptian mid-cap companies. There is no stated geographic diversification beyond the local market.

## Related profiles

- [Sphinx Investments](https://altss.com/profile/sphinx-investments)
- [Spice Capital](https://altss.com/profile/spice-capital)

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Last updated: 2026-08-11T15:08:11.274Z

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