The Ascent Rift Valley Fund (ARVF) has reached its final close at $80m, significantly exceeding its original $60m target.
GroFin, an SME development financier, has launched the GroFin Small and Growing Businesses (SGB) Fund that aims to catalyze sustainable job creation through supporting small and growing businesses in Africa.
The African Renewable Energy Fund (AREF), a dedicated renewable energy fund focused on sub-Saharan Africa, has successfully reached its final close at its hard cap, with $200m of committed capital to support small- to medium-scale projects.
The Abraaj Group has announced the final close of its second dedicated North Africa private equity Fund at $375m.
Investec Asset Management has announced the final close of the Investec Africa Credit Opportunities Fund 1 at $226.5m, below its initial target of $350m.
Momentum Global Investment Management, in conjunction with sister company Eris Property Group, has successfully completed the second close of the Momentum Africa Real Estate Fund.
Apis Partners, a London-based private equity firm, has reached a first close of over $157m on its debut fund focused on financial technology startups in Africa and South Asia.
Mediterrania Capital Partners, a private equity firm focusing on growth investments for SMEs, has reached a final close of Mediterrania Capital II at the planned target of €120m ($133.27m).
Convergence Partners, a specialist African investment management firm, has announced the successful final close of the Convergence Partners Communication Infrastructure Fund (CPCIF), reaching over $200m in capital commitments.
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.
Incofin Investment Management has reached a first closing of the agricultural Rural Impulse Fund (agRIF) at $71m to invest in financial intermediaries in emerging economies (Africa, Asia, LAC Region, CEE-NIS).
Auvest Group, a principal investor offering investment management services to institutions and family offices, has launched the Auvest MENASA Opportunities Fund I, aiming to raise between $250m and $300m.
The Pembani Remgro Infrastructure Fund has achieved a successful first closing of $245m, with the aim of achieving final close during 2015 at a target fund size of $500m.
Duet Group has signed a partnership agreement with Bouygues Batiment International to establish Duet Africa Hotels, a vertically integrated hotel investment, development and asset management company, with an initial target equity raise of $200m.
