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Meanwhile, on 11 May 2016 the firm's board of directors mandated Credit Libanais Investment Bank "CLIB" to sell the remaining 23.7% on a "best efforts" basis as a second phase.
The Impact Fund is co-sponsored by BLOM Invest Bank and MedSecurities Investment, and has already received for its first closing, investment commitments from most of Lebanon's leading banks including BLOM Invest Bank, Bank Med, Bank Audi, Fransabank, Credit Libanais Investment Bank and Al-Mawarid Bank.
According to Credit Libanais Investment Bank's head of corporate finance and economic research Fadlo Choueiri, a great part of the bank's investment banking activities come from advisory work for the Credit Libanais Group, particularly as it added a number of branches in the Middle East and West Africa.