Private equity fund manager Advanced Finance and Investment Group (AFIG Funds) has announced the December 2013 close of a US$50 million recapitalization of its Atlantic Coast Regional Fund (ACRF), bringing its assets under management to US$122 million. Development finance institutions CDC Group and African Development Bank participated in the… Read More
Pan-emerging markets private equity firm Actis has acquired a 36 percent stake in Kenya-based tire wholesaler and retailer AutoXpress Group. AutoXpress operates 20 company-owned stores in Kenya and Rwanda, distributing tire, battery and suspension brands to both corporate customers and the local retail market. The company intends to use… Read More
Lereko Metier, a private equity fund manager focused on mid-cap buyout and growth opportunities in Southern Africa, has exited its stake in South Africa-based medical device distributor Surgical Innovations after healthcare group Ascendis Health, newly listed on the Johannesburg Stock Exchange, acquired Surgical Innovations for a total consideration of… Read More
In 2009, Helios Investment Partners led a consortium of investors in the formation of Helios Towers Africa. Company Headquarters: Ghana, Tanzania, DRC Business focus: Telecom Infrastructure Impact Highlights Since its founding, HTA has grown rapidly— more than doubling revenues each year since 2010—to become a leading independent telecom infrastructure company… Read More
TBL Mirror Fund, a private equity fund focused on small-and medium-sized enterprises in East Africa and Nigeria, has acquired a minority stake in Kenya-based Neo Amadiva, which operates salon outlets in Nairobi’s Riverside and Hurlingham suburbs. Neo Amadiva intends to use the capital injection to expand the salon chain… Read More
Global alternative asset manager The Carlyle Group has raised around US$285 million after selling part of its stake in Hong Kong-listed appliance maker Haier Electronics Group. Carlyle sold 100 million shares, by way of a block trade, at HKD22.10 (approximately US$2.85) a piece. In August 2011, Carlyle, structured through… Read More
Rwanda-based coffee producer KZ Noir, which is owned by Kaizen Venture Partners, a Sub-Saharan Africa-focused private equity firm, has closed a US$1.5 million mezzanine debt facility with impact investor Grassroots Business Fund, and a US$1.2 million convertible debt investment with impact investor Acumen. KZ Noir is a coffee processing… Read More
Mezzanine-focused private equity fund manager Vantage Capital Group will provide ZAR175 million (approximately US$16 million) of mezzanine funding to South Africa-based Mabele Fuels for the construction and operation of a sorghum-to-bioethanol plant. The transaction will be structured through Vantage’s Fund II. In addition, Standard Bank and Eskom Pension and… Read More
LeapFrog Investments, an investor in financial services for emerging consumers in Africa and Asia, has taken a stake in Ghana-based pension trustee company Petra Trust. With this capital injection, Petra will invest in expanding its infrastructure to serve existing clients and in growing its market reach. Financial details of… Read More
AfricInvest Group, a private equity house focused on North and Sub-Saharan Africa, has invested a reported US$20 million in Nigeria-based oil and gas company Broron Oil & Gas. The transaction was structured through AfricInvest Fund II. Broron Oil & Gas provides offshore support to international oil companies in Nigeria… Read More
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