Funds

Capital raising

Private equity and lenders hop aboard $287m Kenya-Uganda railway

The International Finance Corporation and 6 leading international finance institutions provided $164 million in financing to Rift Valley Railways International to rehabilitate the Kenya-Uganda railway today (2 August).

Funds

Aureos private equity backs UK’s Trade out of Poverty initiative

Private equity fund management Aureos Capital has become a founding partner of an emerging markets trade initiative called “Trade Out of Poverty”.

Capital raising

Kenya’s Transcentury private equity firm to list on Nairobi SE

Kenyan private equity firm TransCentury is to list through introduction at the Nairobi Stock Exchange on 14 July at a price of KES50 (USD0.58) a share. The firm began as an investment club and is valued at KES13.35 billion ($148.7 million).

Exchange news

Stock Exchange of Mauritius aims to be global centre for listing funds

The dynamic Stock Exchange of Mauritius is pushing ahead with building itself as a secure base for international funding transactions and an African alternative to international listing venues. It is moving to becoming a multi-product exchange aimed at the international market.

Funds

Helios closed giant $900 mn African private equity fund

Pan-African private equity firm Helios Investment Partners announced that it had raised $900 million for its second Africa-focused private equity fund, and the fund was over-subscribed. It is the largest Africa fund raised.

Egypt

Egypt travel ban lifted on PE firm Citadel Capital chairman

Leading African private equity firm Citadel Capital said that Egypt’s public prosecutor has lifted a travel ban imposed in April on its chairman Ahmed Heikal, according to Reuters. The company also announced Citadel Capital Partners Ltd. sold 13.4 million shares in Citadel Capital worth US$12.4 mn.

Capital raising

Does China push out private equity in Africa?

Interesting article in today’s FT Tilt on whether China’s model of cheap loans backing Chinese construction squeezes out private equity. The author suggests there could be a secondary round of infrastructure management projects.

Funds

New directions for giant CDC: targets poor with $3.1 bn

Giant UK development finance institution the CDC Group has announced a new business plan. Changes include direct investing rather than via funds, and focusing only on low and lower-middle income countries in sub-Saharan Africa and South Asia.

Exchange news

Paladin private equity lists education firm on AltX

South African private equity firm Paladin Capital has listed its 76% subsidiary Curro Holdings on the JSE’s AltX on 2 June. Curro, which offers private schooling, aims to raise another R322.4 million ($48 million) through a rights offer after the listing.

Funds

African private equity deal-making soars: $1.8bn transactions by May

Private equity funds focusing on Africa are becoming more active and making more deals. At least 12 deals were closed in the first five months to May 2011, compared to 19 deals in the whole of 2010, reports leading website Private Equity Africa which cites data from the research house Preqin. The disclosed value of the investments was $1.8 billion, compared to $600 million of deals made in the whole of 2010.

Events

Private equity evening seminar in London

Top African private equity seminar in London coming up in the evening of 2 June. It is organized by the team at Private Equity Africa and features a big line up of top speakers and networking.

Exchange news

Nigerian pensions reach $12.8 bn

The National Pension Commission of Nigeria regulates over N2 trillion ($12.8 billion) in assets under management. This has been accumulated from 4.7 million people who have opened Retirement Savings Accounts and other pensions since the Pension Reform Act 2004.

Funds

Kingdom Zephyr expands into Nigeria

Leading Africa private equity firm Kingdom Zephyr Africa Management Company announced the opening of its new office in Lagos, Nigeria. It has $615 million under management and operates out of Accra, Johannesburg, Lagos, London and New York.

Funds

Funds flows into African private equity – $1.5bn in 2010

Funds inflows into private equity in sub-Saharan Africa including South Africa (SSA) were $156 million in the first quarter of 2011, according to research by the Emerging Markets Private Equity association. In 2010 fund-raising had soared to $1.49 billion.

Funds

ECP announces new CIO for giant African private equity fund

Pan-African private equity specialist Emerging Capital Partners today announced that Andrew Brown is appointed Chief Investment Officer (CIO) in a new position. He will join the investment committee of the $613 million ECP Africa Fund III, which closed in June 2010 and has made 4 investments.

Funds

Africa climbs as attractive private equity destination, survey

Africa is soaring in its attractiveness to global private equity investors. Over the next 2 years, nearly 30% of global LPs plan to expand PE investments in sub-Saharan Africa (including South Africa) and nearly another 10% plan to start investing. This puts Africa is ahead of markets such as Turkey, the Middle East and North Africa region, Russia/CIS, and Central and Eastern Europe.

Funds

Mobius blogs on why he likes Africa

From the blog of Mark Mobius of Templeton Investments: “While Africa does have challenges, I am encouraged by another side of Africa that is gradually emerging with the development of capital markets, consumerism and technology.”

Funds

Brainworks fund links indigenization and private equity in Zimbabwe

Zimbabwean private equity firm Brainworks Capital Management has reportedly launched a $20 million fund targeting Zimbabwe’s agriculture, financial services, mining and telecommunications sectors, according to a report on www.privateequityafrica.com.

Funds

Carlyle launches $500 mn fund for buyout and growth investments

Global alternative asset manager The Carlyle Group on 24 March announced that it has established a team to conduct buyout and growth capital investments in Sub-Saharan Africa. The initial target for the new fund is $500 million, according to Reuters

Capital raising

IFC invests $10 mn in East Africa’s Catalyst I private equity fund

IFC on 8 March announced it was investing $10 million in equity in Catalyst Fund I LLC. The fund aims to stimulate employment and accelerate economic growth across East Africa by improving access to equity financing for emerging and mid-size companies.