Shearman & Sterling advised EFG Hermes UAE Limited (EFG Hermes), a wholly owned subsidiary of EFG Hermes Holding S.A.E, on its agreements to acquire a 50 percent stake in Frontier Investment Management (FIM). Established in 2008, FIM has grown over the past few years to become one of the Middle East’s leading asset managers, with $1.6 billion of Assets under Management (AUM). The remaining 50 percent of FIM will continue to be held by FIM’s Founder and Chief Executive Officer.
EFG Hermes is the leading financial services corporation in the Middle East and North Africa. EFG Hermes started in Egypt and has grown over 30 years of success to become the region’s leading investment bank. It provides a wide spectrum of financial services that include investment banking, asset management, securities brokerage, research and private equity to the entire region.