There has been an increasing trend in strategic sales as a private equity exit route in Africa, according to Jacob Kholi, partner at The Abraaj Group.
There is a disconnect between the management team of the pension funds and their boards in West Africa, when it comes to private equity investments, Africa Global Funds has learned.
CrossBoundary Energy has raised $8m in equity at the first close of CrossBoundary Energy Fund I, Africa’s first dedicated fund for commercial and industrial solar.
Old Mutual Private Equity (OMPE), a division within Old Mutual Alternative Investments, has acquired a 70% stake in MoreCorp, a sport, leisure and wellness business underpinned by technology with interests in golf and cycling.
Energy Access Ventures (EAV), a Paris-based impact‐focused venture firm, has announced its $2m inaugural investment in Off-Grid Electric (OGE), an off-grid electric company providing clean, affordable solar power to homes in East Africa.
Actis, an emerging market investor, has announced an investment of R760m ($54m) in Food Lover’s Market, which is estimated to be the largest independent food retail group in Africa.
A growing number of impact investors express interest in West Africa, but they are seeking a greater understanding of the opportunities and risks in this market, Amit Bouri, CEO of the GIIN, has said.
Malaik, an impact-focused equity crowdfunding portal, has test launched to connect investors interested in impact investment opportunities and entrepreneurs raising equity finance in Africa.
TLG Capital, a private equity firm focused on Sub-Saharan Africa, is targeting $150m for its new credit fund, according to Nicholas Hofgren, Advisory Board Member.
Warburg Pincus, a global private equity firm focused on growth investing, has successfully raised its latest global fund, Warburg Pincus Private Equity XII, receiving commitments in excess of $12bn hard cap.
Warburg Pincus and General Atlantic have agreed to acquire a 49% stake in Network International, a payment solutions provider in the Middle East and Africa, from The Abraaj Group.
Old Mutual Alternative Investments (OMAI), a boutique of Old Mutual Investment Group, has agreed to acquire the 50% of African Infrastructure Investment Managers (AIIM) that it does not already own, making it the sole shareholder of the pan-African infrastructure investment manager.
Actis, a pan-emerging markets investor, has invested $62m for a majority stake in Sigma Pensions, a pension fund administrator (PFA) in Nigeria.
The Abraaj Group has fully exited its shareholding in African insurer, Saham Finances, to Sanlam Group and the Saham Group, a diversified Moroccan-based conglomerate operating in the insurance, offshoring and real estate sectors in the Middle East and Africa, and the parent company of Saham Finances.
