Africa Data Insight (Mid-Year 2019)
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Following two years of subdued activity, Africa fundraising shows signs of recovery, as many GPs have launched follow-on funds after weathering political and economic uncertainty in the continent’s largest economies. Led by the USD425 million final close of Amethis’ second pan-Africa fund, established Africa-focused private equity GPs drove fundraising to USD1.6 billion in 1H 2019, indicating that as some global players have left the region, many firms with local expertise have thrived, perhaps benefitting from the favorable competitive circumstances. New entrants have also aided the fundraising increase, with global infrastructure firms such as Meridiam and A.P. Moller raising Africa-focused funds for the first time. Putting capital to work and navigating a still uncertain environment on the continent will be a priority for investors in the months ahead.