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.
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
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.
Emerging Capital Partners (ECP) awarded “Best Private Equity House in Africa”
Emerging Capital Partners has won an award as “Best Private Equity House in Africa” named by EMEA Finance magazine. This recognizes ECP’s achievements in raising over $613 million for its third pan-African fund, ECP Africa III (AF III), making it the largest fund ever raised for growth equity investing across Africa.
Alternative investor Brait to raise R6 bn and looks to long-term
South Africa’s largest private equity company is transforming itself into a long-term investment holding company and aims to raise ZAR 6 billion ($857.7 million), according to a report on Bloomberg. Brait SA, listed on the JSE Ltd, will use the funds to purchase a long-term stake of 24.6% of Pepkor Ltd, South Africa’s biggest clothes retailer, and 49.9% of Premier Foods.
Private equity firms invest $79 mn in telecoms towers
Leading international private equity firms are investing $79 million to build and acquire mobile phone towers in sub-Saharan Africa. Investec Asset Management, the International Finance Corporation and the Netherlands Development Finance Company are taking equity in IHS Nigeria Plc (IHS).
Private equity firm sees “compelling opportunities” in Egypt and beyond
A leading African private equity firm, Citadel Capital based in Cairo, says change in Egypt brings “very compelling opportunities for long-term private equity investors in Egypt and beyond.” But it warned in a recent press release: “The situation on the ground in Egypt remains fluid” and there could be “short-term impact on both our investment and divestiture plans.”
Jacana partners with Ghana’s Fidelity Capital Partners private equity manager
Jacana, a UK-based group that supports emerging SME private equity firms in Africa, has launched its second investment, a strategic partnership with Ghanaian fund manager Fidelity Capital Partners Limited.
More career opportunities in Africa’s capital markets
Many financial institutions are gearing up their staffing as they start to roll out their African operations. These include banks, stockbrokers and others. African Capital Markets News interviewed Frank Behrendt, a recruiter.
The “Missing Middle” opportunity to reach SMEs and low- and middle-income earners through bank-investing PE fund
There is an opportunity in providing banking services to a “Missing Middle”, by focusing on financial services for lower- and middle-income groups in Africa, both individuals and growing small- and medium-enterprises. This is the thesis behind the Botswana-registered Summit Development Group private equity fund, which is currently in the process of raising $125 million and heading towards its first $40 million close.
Aureos Africa Fund invests $10 mln into HFC, backs expansion and SME lending
Aureos Africa Fund has completed a US$10 million investment in HFC Bank Ghana Ltd, a commercial and retail bank. The investment in HFC will help the bank remain strongly capitalised as it continues the steady expansion of its branch network and of its lending to businesses and consumers.
Africa Food Fund – Euro 150 mln fund launched by Silk Invest
Global asset manager Silk Invest is launching the Africa Food Fund, a new Euro 150 million private equity fund focusing on the African food sector. The fund is domiciled in Luxembourg and will concentrate on value-adding, including food and beverages processing and distribution.
Zimbabwe US$25 million women investment fund launched
Top Zimbabwean Government women leaders on 30 September launched a US$1 million Zimbabwe Women Investment Fund, aimed at mobilising resources to enhance women’s participation in the mainstream economy. They aim to grow the fund to US$25 million within 3 years, according to a report in The Herald newspaper.
$250 million TMT and real estate fund raising capital in East Africa
Kenyan venture capital company East Africa Capital Partners Ltd is to begin raising its second fund next year, with a target size of USD250 million, after its success in fully investing $100 million of the first African Technology, Media and Telecommunications (ATMT) fund. The new fund is to focus on information technology, media and real estate.
Singer Bob Geldof aims to raise $1 bn for African private equity fund
Singer and campaigner Bob Geldof, famous for his music as well as his campaigns for aid for Africa, is seeking to raise $1billion from institutional investors for a private equity fund to be called 8 Miles – the distance from southern Europe to the northern tip of Africa. The fund aims for the first close, with $150 million, in the 4th quarter.
Africa investor conference, New York, 17 September
Africa investor is holding its annual Index Series conference at the New York Stock Exchange on 17 September. The aim is to bring African CEOs and capital markets leaders to meet investors, including sessions on private equity, bonds markets and stock exchanges.
GEF Africa sustainable forestry fund.
British development finance institution, CDC (www.cdcgroup.com) has committed US$50 million to the GEF Africa Sustainable Forestry Fund (GASFF), the first private equity fund to focus solely on sustainable forestry in sub-Saharan Africa. The fund is to be run by the investment team of Global Environment Fund (GEF) which has a long history of investing in sectors that make a positive impact on the environment and quality of life.
Investors flock to $613 millon ECP Africa Fund III
International private equity firm Emerging Capital Partners on 25 July announced the final closing of its ECP Africa Fund III PCC (Africa Fund III), with total commitments of over $613 million. It is one of the largest funds ever raised for investment across Africa
Citadel Capital announces cement deals in Sudan and Egypt
Leading African private equity house Citadel Capital has this week announced 2 cement deals. Citadel was recently named “African Business of the Year” at a gala awards ceremony organized by “African Business” magazine. It is based in Cairo and listed on the Egyptian Stock Exchange (ticker CCAP.CA).
Jacana makes first investment, into Kenya’s InReturn Capital
A UK-based investment and advisory firm concentrating on African venture capital managers has announced its first investment. Jacana Venture Partnership on 29 June announced that it will invest in InReturn Capital, a Kenya-based firm investing in East African small and medium enterprises.