Funds

Funds

Will Interswitch be Africa’s first $1bn tech “unicorn”?

Nigeria’s digital payments and payment card giant Interswitch Ltd could become Africa’s first tech “unicorn” or technology company valued at over $1 billion. Private equity firm Helios is aiming to exit.

Funds

Putting aside billions – Africa’s sovereign wealth funds

Sovereign wealth funds are sprouting across Africa – 15 countries have created funds in the last 20 years, managing a total of $159bn at the end of September 2014.

Funds

Annex 2 – What are sovereign wealth funds?

The Sovereign Wealth Fund Institute of Las Vegas, USA defines SWF as “a state-owned investment fund or entity that is commonly established from balance of payments surpluses, official foreign currency operations, the proceeds of privatizations, governmental transfer payments, fiscal surpluses, and/or receipts resulting from resource exports”.

Exchange news

Botswana supermarket raising $48m in JSE dual-listing

Botswana supermarket chain Choppies Enterprises launches a roadshow to raise $48m and dual-list shares on the main board of JSE securities exchange on 27 May.

Funds

Private Equity Africa awards 2015

Congratulations to the winners of the 2015 Private Equity Africa Awards which celebrate the achievements of Africa’s top General Partners (GPs) and advisors in 2014.

Ethiopia

Insights of private equity in Ethiopia – Schulze Global Investments

Great interview with Schulze Global Investments, the longest-established private equity firm in Ethiopia and run by a family office, with useful insights into the private equity landscape and trends.

Capital raising

What are Africa’s pension funds investing into?

African pension funds in 10 countries already have $379 billion in assets under management and continue to grow. Are there enough opportunities for them to deploy these investment resources most productively?

Exchange news

Capital markets course offered in Nairobi

The Nairobi Securities Exchange is calling for applicants for a “certified capital markets specialist” course, to be held on 16-20 March at a hotel. Registration has been extended to 10 March.

Funds

Private Equity Africa ranks top 10 deals in 2014

Leading website and magazine Private Equity Africa lists the top 10 Africa private equity deals from 2014, with data from Preqin. Top are two telecoms tower deals – Helios leading $630m into Helios Towers and ECP leading $490m into IHS.

Ethiopia

“Africa’s largest” Helios III private equity fund to close at $1.1bn

Leading African private investment firm Helios Investment Partners, says it is about to close its 3rd Africa-focused private equity fund Helios III at the $1.1 billion limit, making it the largest fund.

Capital raising

South Africa’s PIC aims to invest $1bn into African private equity and development

South Africa’s Public Investment Corporation has established 2 funds and plans to invest at least $1 billion into African investments outside South Africa, including $213 million in the current financial year to March 2015.

Events

Top private equity conference bring industry leaders together

SuperReturn Africa, the leading African private equity conference, returns Dec 2014, bringing together more than 500 equity professionals, 150 of the most powerful private-equity practitioners and 130 top industry speakers.

Exchange news

Nairobi Securities Exchange CEO Peter Mwangi moves to Old Mutual Kenya

The well-respected CEO of the Nairobi Securities Exchange, Peter Mwangi, is to take up a new job as Group CEO at insurance company Old Mutual Kenya with effect from 1 October.

Capital raising

9 African IPOs in first half of 2014 raise $808m, passing all 2013

Initial public offers (IPOs) on African stock exchanges for the first half of 2014 has raised capital totalling $808.5 million, compared to a total of $757.5m raised throughout 2013

Funds

Abraaj makes its first private-equity exit in Angola

Private-equity investor The Abraaj Group made its first exit in Angola, exiting its investment in Fibrex which manufactures high-density polyethylene (HDPE) and other low-pressure plastic pipe products used in construction.

Capital raising

Africa’s leading bond and debt summit

Top speakers including Government leaders, policy-makers, bankers, investors and experts will debate the future of Africa’s debt capital markets on Monday 30 June at the London Stock Exchange for African Debt Capital Markets ADCM 2014 conference organized by African Banker magazine.

Funds

Women scoop African Banker Awards 2014

Women triumphed at African Banker Awards 2014, winning 3 top awards including Vivienne Yeda as African Banker of the Year. GT Bank is African Bank of the Year.

Capital raising

Top legal conference focuses on Africa infrastructure and natural resources deals

International Financial Law Review (IFLR) Africa Forum on 20 May to focus on innovative financing and M&A for resource and infrastructure investment.

Funds

Women hedge fund managers outperform men

For the second year running, women hedge-fund managers outperform men on average, according to a study by professional services firm Rothstein Kass.