Wednesday 23 April 2014

Carlyle Close First Africa Fund 40% Above Target

Carlyle closed their first sub Saharan Africa fund at USD698m, 40% above their initial USD500m target. They had launched the fund in early 2012. Speaking to the FT, MD and co-head of Carlyle’s sub Saharan Africa team Marlon Chigwende said that half of the...

Eskom Pension and Provident Fund Commits USD9.5m to IHS Fund

Eskom Pension and Provident Fund, South Africa’s second largest pension fund, will invest ZAR100m (USD9.5m) in International Housing Solution’s second fund, which targets investments in affordable low-cost housing, including student housing. HIS has...

Novare to Raise Second PE Property Fund

Novare Private Equity have announced that they will raise a second, USD250m fund for real estate investments, focused on Nigeria and other West African countries. The first fund, closed three years ago, will have given them a useful practice run in a...

ADC and Atlas Mara Team up for Joint Bank Holding

When we first read about Atlas Mara’s investments plans, we thought ‘That looks a bit like ADC’s Africa bank holding plans. And here they are, merging into one: African Development Corporation (ADC) announced that their management and board have approved...

Convergence Partners Invest in 4Di Capital Fund 1, Transfer Tech Investments

Convergence Partners have announced an investment in South African technology venture capital firm 4Di Capital’s Fund 1, joining existing LPs Reinet Fund and E. Oppenheimer & Son. Convergence will also transfer their portfolio of current tech...

Eurofin Strongeagle Fund Reach First Close

  Eurofin Capital have announced the first close of their Eurofin Strongeagle Mozambique Fund with initial commitments of USD21m, a quarter of the targeted USD100m. The fund will mainly target real estate investments and plans to make its first...

Sango Capital Close Maiden Fund at USD109.5m

Sango Capital Partners announced that they closed their first Africa PE fund at USD109.5m in October 2013, 13 months from their first close. The vehicle is set up as a hybrid fund: Sango plan to invest in companies individually or with local partners –...

AFIG Raise Additional USD18.4m from CDC

CDC have announced a further commitment of USD18.4m to the Advanced Finance and Investment Group’s (AFIG) Atlantic Coast Regional Fund (ACRF), which raises their overall commitment to USD33.4m. AFIG are in the process of a rights issue that will increase...

AFDB Commits USD25m to Pan African Infrastructure Development Fund

The African Development Bank (AfDB) will contribute USD25m to the Pan African Infrastructure Development Fund 2 (PAIDF2), a private equity fund that will invest in power, transport, water and sanitation, ICT and healthcare infrastructure across the...

IFC to Back Abraaj’s New Healthcare Fund?

VC Circle report that the International Finance Corporation (IFC) will back Abraaj Group’s new Abraaj Global Healthcare Fund (AGHF) which targets health sector investments in Africa, Asia and Latin America, providing . Abraaj aim to raise USD1bn for this...

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