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.
Bamboo Finance, a private equity firm specializing in investing in business models that benefit low-income communities in growth markets, has closed its second financial inclusion focused fund at $31m.
The Abraaj Group has final closed its Africa Fund III, a third dedicated Sub-Saharan Africa private equity fund, at $990m, receiving support from a diverse range of global institutional investors, pension funds, sovereign wealth funds and development finance institutions.
