Wednesday, March 20, 2019 UTC

AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Private Equity > Fundraising

MPEF IV hits second close

Anna Lyudvig
Oct. 17, 2018, 9:08 p.m.

Word count: 350

AfricInvest, a pan-African mid-cap-focused private equity firm, has announced the second closing of its North African Fund, Maghreb Private Equity IV (MPEF IV).

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AfricInvest, a pan-African mid-cap-focused private equity firm, has announced the second closing of its North African Fund, Maghreb Private Equity IV (MPEF IV).

The second closing brings MPEF IV ’s total commitments to €172m. 

A third close is expected before year end, which will bring the fund’s total commitments close to its target size of €200m.

MPEF IV ‘s first close reached €152m with commitments from nine prestigious development finance institutions.

OeEB, the Development Bank of Austria and a prominent South African fund of funds have joined this investment round.

“Supporting small and medium-sized enterprises – the backbone of the economy and a key driver for economic development – is one of OeEB’s main goals. By investing in Maghreb Private Equity Fund IV we can contribute to improving access to finance for SMEs in North Africa which allows them to grow and to create jobs in a region where unemployment is particularly high,” commented Michael Wancata, member of OeEB’s executive board.

FMO, the development finance institution of the Netherlands, also increased its commitment to the fund in this round.

MPEF IV is a 10-year fund that will invest in small and medium enterprises in North Africa (including Algeria, Egypt, Morocco, and Tunisia), looking to take substantial minority stakes. 

The fund’s strategy will target companies that are well-established in their local markets and that have the potential to scale up their activities at the regional level, in the Mediterranean basin, and across the African continent.

Aziz Mebarek, Founding Partner, AfricInvest, said: “We are grateful to all our LPs for their continued support for the North Africa region. We are particularly happy to welcome two prestigious investors who are joining AfricInvest as limited partners for the first time.” 

“Moreover, we now look forward to the opportunity to build synergies in these LPs’ geographies of South Africa and Austria. These new commitments represent an important step in the life of MPEF IV, helping the fund to move ever closer to its target size, which will enable the team to effectively support emerging regional champions in North Africa,” he added.

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