Private Equity |

Fairfax Financial Holdings to Raise $500 Million for Africa Fund

LAGOS (Capital Markets in Africa) – Prem Watsa’s Fairfax Financial Holdings Limited is expected to raise about $500 million for its new African investment fund, attracting less than its original goal as investor interest in the region proved weaker than anticipated, according to people familiar with the matter. The Toronto-based insurer sought to raise as much as $1 billion at $10 a share for Fairfax Africa Holdings Corp. in an initial public offering on the Toronto Stock Exchange, according…

European-Backed Fund Arise Targets $1 Billion of African Assets

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LAGOS (Capital Markets in Africa) – Arise, the new development-finance venture created from the pooled sub-Saharan African assets of three European lenders, said it plans to buy minority stakes in companies across the continent as part of a strategy to boost assets to $1 billion from $660 million. The company will target sub-Saharan African financial-service providers aimed at retail businesses, small- and medium-sized enterprises, rural areas and people who haven’t previously had access to banks and loans,…

Stefanutti to Raise $74 Million for Black-Owned Coal Miners

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JOHANNESBURG (Capital Markets in Africa) – Stefanutti Stocks Holdings Ltd., a South African construction firm, plans to raise a 1 billion-rand ($74 million) fund to invest in coal mining operators majority-owned by black investors. The building company is working in partnership with Africa-focused investment group Jaltech Financial Consultants to set up the JSS Empowerment Mining Fund and source the necessary capital from wealthy individuals, according to JSS money manager Gaurav Nair. Participants will receive a tax benefit on…

Canada’s Mawer Offers New Emerging Markets Equity Fund

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LAGOS (Capital Markets in Africa) – Mawer Investment Management Ltd. (Mawer) launched a new fund today, offering investors an opportunity to invest in emerging markets using Mawer’s time-tested investment approach: “Be Boring. Make Money™” Mawer has 30 years of experience investing in emerging markets within its International equity strategy and more recently in its global small cap and global equity strategies. The new Mawer Emerging Markets Equity Fund will be managed by Peter Lampert, CFA,…

Cytonn takes 25% stake in real estate developer Superior Homes, Kenya

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NAIROBI (Capital Markets in Africa) – Cytonn Investments acquired a 25 per cent stake in real estate developer Superior Homes, as it aims to grow its property portfolio in the Kenya market. The investment firm which has a Sh73 billion real estate portfolio sealed the deal yesterday by injecting Sh1 billion in Superior Homes, setting pace for mergers and acquisitions in the sector. The series of transactions as structured values Superior Homes at about Sh4…

ADvTECH acquires majority stake in University of Africa, Zambia

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LUSAKA (Capital Markets in Africa) – ADvTECH, Africa’s largest private education provider, is pleased to announce the acquisition of a 51% stake in the University of Africa (“UoA”). Following the International Finance Corporation’s (“IFC”) investment in the Group in 2016 to support its expansion strategy, this acquisition represents the Group’s first tertiary partnership outside of South Africa. A private distance-learning university based in Zambia, UoA has a rapidly growing student base from across the continent…

Home-grown African wealth funds seeking foreign partners to fix infrastructure gap

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LAGOS (Capital Markets in Africa) – Africa, famously short of new roads, ports and power stations, is increasingly leaning on its own sovereign investment funds to help fix its infrastructure gap. The funds – which have around $150 billion between them, according to research firm Preqin – are digging in themselves and offering co-investment opportunities and guarantees to attract foreign capital. The scale of the problem is huge – some 600 million Africans, or half the…

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