The IFC Middle East and North Africa (MENA) Fund has raised $125m from IFC, a member of the World Bank Group, the Arab Fund for Economic and Social Development, the Arab Investment Company and the Arab Petroleum Investment Corporation.
Private equity in South Africa remains an attractive asset class for pension funds and other institutional investors, Erika van der Merwe, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), has said.
The Public Investment Corporation (PIC) has funded the acquisition of AFGRI Poultry and AFGRI’s Kinross Animal Feeds Mill by AFPO Consortium, a South African black economic empowerment consortium led by Matome Maponya Investments.
The Abraaj Group has acquired a majority stake in Mouka, a mattress manufacturer in Nigeria, from previous shareholders, Actis and the founding family, with the latter retaining a minority stake in the company.
Helios Investment Partners and the Vitol Group have reached an agreement to acquire 60% of the economic rights and 51% of the voting rights in the West African downstream business of Oando, an integrated oil and gas company headquartered in Nigeria, for around $276m.
The Abraaj Group has sold its 13.6% stake in UAP Holdings, a pan-African insurance holding company, to Old Mutual, a London-listed international investment, savings, insurance and banking group.
Kibo Capital Partners, a manager of regional private equity funds, has fully exited its 40% stake in Uganda-based International Medical Group (IMG) to a consortium consisting of the Ciel Group, an investment conglomerate in Mauritius with growing activities East Africa, and Fortis, a healthcare operator from India.
The Emerging Africa Infrastructure Fund (EAIF), GuarantCo and Frontier Africa Investment Resource (FAIR), all vehicles being subsidiaries of the Private Infrastructure Development Group (PIDG), have issued an invitation to tender for their management contracts.
Private equity firm KKR has been charged by the Securities and Exchange Commission (SEC) for misallocating more than $17m in so-called “broken deal” expenses to its flagship private equity funds in breach of its fiduciary duty.
The realisation market in the South African private equity industry has returned the highest amount of capital since 2011, according to the 2015 KPMG and SAVCA Venture Capital and Private Equity Industry Performance Survey.
American Capital Energy & Infrastructure (ACEI) has revealed its plans to invest in Senegal's first industrial-scale wind power project and the largest wind farm planned in West Africa.
One Thousand & One Voices (1K1V), a Sub-Saharan African private equity fund, established by high net worth families across the globe, has invested an undisclosed amount in Beefmaster, a South African meat producer.
Helios EB Investors II, a wholly-owned subsidiary of Helios Investment Partners, has sold its 2.44% stake in Equity Group Holdings to the National Social Security Fund (NSSF Uganda) at a price of KES 50 ($0.51) per share.
Private equity teams in Africa are very much about close and trusted partnerships, Phatisa’s co-founder Stuart Bradley has said.
