Private Equity |

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

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…

Pearl Capital Partners reaches first close for Uganda fund

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KAMPALA (Capital Markets in Africa) – The European Union (EU), the International Fund for Agricultural Development (IFAD) and the National Social Security Fund (NSSF) are working together to catalyse investment in the agriculture value chain with the launch today of the Yield Uganda Investment Fund. An initial EUR12mn (UGX46bn) has been made available to provide much needed access to capital for small and medium agri-businesses in Uganda. This new impact Fund, being arranged by Deloitte…

Diamond Said to Mull Atlas Options Including Taking Private

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LONDON (Capital Markets in Africa) – Bob Diamond, co-founder of Atlas Mara Ltd., is weighing options including taking the sub-Saharan African bank acquirer private, people with knowledge of the plan said. One option being considered is to find an investor or private-equity vehicle to back such a move, one of the people said, asking not to be identified because the details are private. A merger with another financial institution with a presence in Africa is also being weighed,…

GAIA Infrastructure acquires 25.2% stake in Dorper Wind Farm, South Africa

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JOHANNESBURGH (Capital Markets in Africa) – Gaia Infrastructure Capital Limited (“GAIA” or “the Company”) is pleased to announce that the Company’s listing has transferred from a SPAC (“Special Purpose Acquisition Company”) to the Investment Services sector of the JSE Limited (“JSE”). The move was facilitated by the completion of the acquisition of an effective see-through economic interest of 25.2% in Dorper Wind Farm (Proprietary) Limited (“Dorper” or “the Acquisition”) for R501 million (“Viable Asset Transaction”)….

Carlyle to become largest shareholder in South Africa’s Global Credit Ratings

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JOHANNESBURG (Capital Markets in Africa) – Carlyle Group has agreed to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency’s services. Terms of the deal, which was first reported by the Financial Times, were not disclosed. Carlyle is set to buy around half of the equity in GCR from its management founders and German development finance business DEG, which will remain…

AfricInvest and Bpifrance launch French African Fund

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TUNIS (Capital Markets in Africa) – AfricInvest and Bpifrance are pleased to announce the launch of the French African Fund (FFA), the first cross-border investment fund dedicated to the development of small and medium-sized enterprises (SMEs) in both Africa and France. The fund will be managed by AfricInvest, a leading pan-African mid-cap-focused private equity firm with almost EUR1bn of funds under management and offices in six African countries as well as in France. A pool of…

Former Africa heads at Carlyle and KKR to set up regional investment firm

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LONDON (Capital Markets in Africa) – The former regional heads for Africa at private equity giants KKR and Carlyle are setting up an investment firm, Arkana Partners, to target local equity investments of up to $100 million. Kayode Akinola told Reuters on Wednesday that he was leaving KKR to join forces with Marlon Chigwende, who left his role as Africa chief at rival Carlyle in 2016, as private equity opportunities in Africa are often seen as…

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