As the Egyptian government led by President Hosni Mubarak fights to maintain power, private equity companies are cautiously eyeing what will happen to one of the most strategically important states in north Africa.

The Mubarak government had been friendly to private equity - believing the asset class had helped the country in its growth. In June 2008, Egypt's minister for investment Mahmoud Mohieldin told Private Equity News, a sister publication: "It's very much private investment, including private equity, which is responsible for the growth that we've been enjoying."