Egypt's status as a target for private equity (PE) can be traced back to 2001, when the country was included in the MSCI Emerging Markets Index. This was followed by rapid PE growth in the Egyptian economy, particularly between 2005 and 2009, with Egypt being the primary destination for PE investments in the Middle East and North Africa region, attracting an estimated US$2.5 billion in that period. However, following the uprisings and political changes during the period from 2011 to 2013, the PE market in Egypt temporarily slumped before witnessing a gradual progress and strengthening owing to recent legal, regulatory and economic reforms.