Africa-focused private equity fund manager Emerging Capital Partners (ECP) has reached a final close for ECP Africa Fund IV (AFIV), garnering more than US$640 million in commitments to the fund and related co-investments. The fund’s investors—over half of which are Africa-based, with the remainder based in Europe and North America—include Old Mutual Africa Private Equity Fund of Funds, a 57 Stars-managed vehicle, public and private pension funds, sovereign wealth funds, funds of funds and development finance institutions Proparco, DEG, African Development Bank and OPIC. AFIV will seek control and significant minority investments in the financial services, consumer goods, telecommunications, information technology, infrastructure and logistics sectors. The fund has already invested in four companies with operations across seven countries.