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Eczellon Capital launches $250m West Africa PE fund

Africa Global Funds
Dec. 17, 2014, midnight
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Eczellon Capital, an investment bank operating in the Nigerian and other West African markets, has launched a West Africa-focused private equity fund with a target size of $250m.

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Eczellon Capital, an investment bank operating in the Nigerian and other West African markets, has launched a West Africa-focused private equity fund with a target size of $250m.

Fundraising is expected to close by Q4 2015 with the first close in the second quarter.

The fund will be administered in tranches over a two-year period.

According to CEO Diekola Onaolapo, the fund, which will be managed by Eczellon International, will be investing in energy, infrastructure and a few other active sectors in the evolving West African economy.

“The fund will be for identified investment opportunities and already packaged deals in energy, infrastructure and a few other high growth sectors, even as it expects a strong deal flow beyond the already identified portfolio. The fund will invest in and support unlisted enterprises with high capital growth potentials over the medium to long-term (ranging from 3 to 5 years),” he told Thisday.

Eczellon Capital has already assisted Nigerian companies in securing over $140m in committed capital in 2014 alone and seeks to further expand access to finance for its focus sectors in the coming years with the launch of this fund.

According to Onaolapo, Eczellon Capital believes in and solidly supports the “African Dream” and this will come when businesses, large corporations and small enterprises alike, can flourish and deliver the much needed fundamentals like power, energy and other developmental needs of the continent.

“This is why the company seeks to contribute to the alleviation of socio-economic deficits in Africa by providing needed solutions to businesses and governments, in areas of suitable financing and expert advice,” he said.

“Our goal is to aid the proliferation of global growth companies across Africa and to support governments in achieving the developmental objectives of their mandates. Discussions and commitments are already at advanced stages with key prospective investors in the fund which include insurance firms, pension funds, development finance institutions and other qualified institutional investors, as well as high net worth individuals in Nigeria and across the Middle and Far East,” he concluded.

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