West Africa-focused private equity fund manager Cauris Management has sold its stake in Togo-based Banque Populaire pour l’Epargne et le Crédit (BPEC) to African financial services company SUNU Group. Cauris originally invested in BPEC, which currently has 27 branches across Togo, in 2010 through Cauris Croissance and completed a follow-on… Read More
Southeast Africa-focused private equity fund manager Inside Capital Partners has agreed to provide USD7.5 million in mezzanine financing to Sub-Saharan Africa-based hospitality chain Latitude Hotels Group. Inside Capital will invest from its first fund, Inside Equity Fund. Latitude Hotels Group, which operates three hotels in Malawi, Zambia, and Uganda, intends… Read More
NBK Capital Partners, an alternative investment fund manager focused on the Middle East, North Africa, and Turkey, has acquired a 100 percent stake in Egypt-based private school King Integrated American School (KIAS). NBK executed the transaction through its portfolio company Kaumeya Language Schools, an Egypt-based international school network. Following the… Read More
Solar energy financing firm SunFunder has reached a first close for Solar Energy Transformation Fund with USD42.5 million in capital commitments. Investors in the fund include the Overseas Private Investment Corporation, which committed USD25 million; Calvert Impact Capital, which committed USD7.5 million; and Ceniarth and the IKEA Foundation, which each… Read More
Sub-Saharan Africa-focused impact investment group Investisseurs & Partenaires (I&P) has reached a second close for I&P Afrique Entrepreneurs 2 with EUR75 million (approximately USD85 million) in commitments. After reaching a first close in December 2017, the fund has brought on new investors including development finance institutions BIO, DGGF, and Bpifrance;… Read More
South Africa-focused technology incubator Savant has reached a first close for its debut venture fund, which will invest in technology hardware businesses. SA SME Fund, an impact-focused investment vehicle backed by 48 Johannesburg Stock Exchange-listed companies, committed ZAR100 million (approximately USD7 million) to the venture fund and an additional ZAR10… Read More
Global alternative asset manager Blackstone Group has agreed to exit South Africa-based energy infrastructure project developer Black Rhino Group to the company’s management team. In addition, Blackstone has sold the rights to develop the Qua Iboe power plant in Nigeria to UK-based project developer Globeleq. Blackstone originally acquired control of… Read More
Pan-African private equity fund manager Development Partners International (DPI) has invested USD35 million in African facilities management specialist International Facilities Services (IFS). The company provides catering, maintenance, laundry, and housekeeping services to clients on remote sites and will use the funds to support acquisitions and working capital requirements for existing… Read More
Africa-focused investment fund manager Amethis has reached a first close for Amethis Fund II with EUR305 million (approximately US$349 million) in capital commitments. Investors in the fund include the Edmond de Rothschild Group, Ariane and Benjamin de Rothschild’s family, Madagascar-based conglomerate Axian Group and development finance institutions IFC, Proparco, Bpifrance… Read More
Global venture capital firm Partech Partners has closed Partech Africa Fund with EUR125 million (approximately US$143 million) in commitments. Investors in the firm’s inaugural Africa fund include development finance institutions the EIB, IFC, KfW, FMO and AfDB, as well as corporate investors Orange, Edenred, JCDecaux Holding, Bertelsmann, L’Oreal, Axian Group… Read More
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