A leading African private equity house Development Partners International (DPI) has reached the first close of its second pan-African African Development Partners II (ADP II) fund at over $400 million.
Merchant bank Lion’s Head is moving fast forward with the Global Health Investment Fund to invest in and advance late-stage drugs, vaccines and other global health technologies, aiming to impact poorest countries while winning financial returns in developed markets. It has attracted $94m in commitments and top global backing.
Africa’s private equity firms have been finding great ways to realize value, fuelling and profiting from the continent’s soaring growth, but also helping Africa’s markets become more pan-regional and scoring successes by working closely with management teams to create value at investee companies.
Global institutional investors (“Limited Partners”/LP) have selected Sub-Saharan Africa (SSA) as the most attractive investment region for private equity, according to research from the Emerging Markets Private Equity Association (EMPEA).
Private equity are getting harder in Africa, particularly for mega funds looking for $75m deals, and 57 funds are currently trying to raise $13.1bn causing a “traffic jam”m, say private equity experts.
Entrepreneurs running small and medium-enterprises (SMEs) in West and East Africa stand to benefit from a new $75m private equity fund. The announcement follows the news on 29 Jan that two long-term private equity partners – Jacana and InReturn Capital – are merging.
A West Africa private equity fund, Fonds Cauris Croissance II, says it will invest 4 billion FCFA (XOF, equivalent to $8 million) in Azalaï Hotels to fund an ambitious expansion programme in the region.
Leading African private equity group Actis has won the title for “Best Developer in Africa” in the 8th annual global Euromoney Real Estate Survey run by finance magazine Euromoney
Voxtra East Africa Agribusiness Fund, a Norwegian social investor, has completed its inaugural investment of US$1.5 million in Mtanga Farms Limited in Tanzania, which grows seeds, crops and livestock.
The Silk African Food private equity fund, run by UK regulated specialist asset manager Silk Invest Ltd, has acquired a significant minority equity stake in NAS Foods Ltd., a biscuit maker in Ethiopia.
It was great to be part of the inaugural Private Equity Africa Awards, organized by the excellent team. According to them, the accolades are the first to focus only on Africa’s private equity industry. Helios and Citadel won the most awards. The evening concluded a day-long LP (limited partners) summit on 14 June 2012.
The African Development Bank has approved an equity investment of US$100 million to Agvance Africa, which the bank claims is the first fund of funds focused on African agribusiness.
Pioneering private equity group CDC, 100% owned by the UK Government’s Department for International Development, has recorded a paper loss of £72 million ($111.6m) across its £2.6 billion portfolio for 2011.
Learn from private equity fund-raising and deal trends of 2011 and look forward to the rest of 2012 with top private equity managers and a leading Africa economist at the Private Equity Africa evening seminar in London on 14 March. Entry deadline 31 March is also fast approaching for the Private Equity Africa awards, in association with the Coller Institute of Private Equity at London School of Business.
Abraaj Capital, a leading private equity manager investing into Africa, Middle East, Asia and Turkey, recently announced the acquisition of Aureos Capital, a global private equity fund management group investing in small and medium-sized enterprises across Asia, Africa and Latin America.
London-based alternative asset manager Duet Group and Vasari, a company with a record of growing businesses, announced recently in a press release that they had made the largest private equity investment in Ethiopia so far to expand Dashen Brewery.
The International Finance Corporation (IFC), a member of the World Bank Group, on 20 Dec agreed to invest CAD1,250,000 in nickel and copper exploration through Sama Resources Inc, which will use the funds to advance the Samapleu project in eastern Côte d’Ivoire, near the border with Guinea.
Aureos Africa Health Fund invested $2.5 million in a Kenyan hospital and health insurance company, the Avenue Group, which offers affordable healthcare cover, integrated with quality healthcare provision.
East African venture capital firm InReturn Capital has entered a partnership with Hurlingham Eye Care Services group (HECS). InReturn Capital is an impact investing company which aims to generate positive social impact and profits by investing in small and medium enterprises (SMEs) in East Africa.
The African Venture Capital Association and Cambridge Associates are to work together to provide extensive, independent aggregate African private equity and venture capital benchmark data and statistics to AVCA members and other industry participants.