OPIC invests $285m in 6 impact investing funds
U.S. development finance institution, the Overseas Private Investment Corporation (OPIC), is to invest up to $285 million in financing to private equity funds. These in turn should raise more than $875m, representing the largest commitment by the U.S. Government to impact investing in emerging markets.
Private equity exits total $1.2bn
Private equity managers (GPs) have exited some $1.2bn of investments this year, spurred by new interest and good deal values, according to data from Preqin. This compares with $79m last year. This lists some deals.
Africa is ready for private equity, says EMPEA/FT summit
Government leaders, regulators and decision-makers across Africa recognize the success of private equity in growing companies, creating jobs and developing infrastructure. They are actively considering ways of encouraging flows of capital, both international and domestic, into private equity.
Emerging markets private equity soars, but little cash for Africa
Fund-raising for sub-Saharan African private equity funds was $1.056 billion in January to June 2011, down 5% from $1.11 bn in the first half of 2010.Total fund-raising for emerging markets funds for the first half of 2011 was $22.6 bn, according to EMPEA, more than double the activity of the first half of 2010.
SANAD Fund to target SMEs in North Africa and Middle East
Tiny, small and medium businesses in Egypt and Tunisia, later Algeria and Morocco, are set to benefit from a new €30 million ($43.2 mn) SANAD Fund for MSME.
Oppenheimer family and Temasek SWF launch African private equity fund
South Africa’s E. Oppenheimer family and Singapore’s sovereign fund Temasek Holdings have set up a $300 million private equity fund called Tana Africa Capital to invest primarily in consumer goods and agricultural sectors
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).
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”.
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).
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 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.
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.
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.
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.
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.
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.
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 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.
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.
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.