Private Equity |

Private equity in Africa loses its shine

JOHANNESBURG, Capital Markets in Africa: Major private equity firms have seen a number of top management departures in Africa, individuals familiar with the matter said, as the funds grapple with investments hurt by a weak economy. U.S. firm Carlyle, Standard Chartered and emerging market-focused Actis have all seen a change of top executives at their Africa funds, according to these six individuals. Once seen as a beacon of growth, private equity firms expanded their business…

Private Equity | Oasis Capital achieves first close at US$27mn

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LAGOS, Capital Markets in Africa: Oasis Capital Ghana has completed the first close of its second fund, Oasis Africa VC Fund (OAF) at US$27mn. The Fund, anchored by the Dutch Good Growth Fund (DGGF) at US$5mn, has secured commitments of US$7mn from the International Finance Corporation (IFC) and over US$15mn from a local investor base of 5 institutions and individuals. OAF will invest in Small and Medium Enterprises (SMEs) in Ghana and Cote d’Ivoire providing…

Africa Finance Corp. Plans More Eurobonds for Infrastructure

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LAGOS, Capital Markets in Africa: The Africa Finance Corp., a development-finance institution that funds infrastructure on the continent, plans to sell more Eurobonds to support energy-generation and logistics projects. The Lagos, Nigeria-based lender, which has financed projects in 26 African countries, has scope to borrow more offshore in its $1.5 billion funding strategy after raising 100 million Swiss francs ($103 million) in a debut three-year Eurobond in July, said Ini Urua, senior vice president for east and…

Private Equity | Virgin Active-Owner Brait Seeks London Listing, New Funding

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Johannesburg, Capital Market in Africa: Brait SE, the South African investment company that owns U.K. chains Virgin Active and New Look, plans to trade its shares on the London Stock Exchange and will consider selling new equity to fund future deals. A capital raising could take place at the same time as the proposed London listing, the company, whose biggest shareholder is South African billionaire Christo Wiese, said in a statement on Wednesday. Brait plans to move its…

Investment | DPI invests US$100mn in Atlantic Business International

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ABIDJAN, Capital Markets in Africa: Development Partners International (DPI), one of the leading African private equity specialists with US$1.1bn under management, has agreed to subscribe to a US$100mn capital increase through its ADP II Fund in Atlantic Business International (ABI). ABI is the third largest banking entity in the West African Economic and Monetary Union (UEMOA) and the second largest bank in Côte d’Ivoire in terms of deposits with banking and insurance operations across Côte…

Carlyle Said to Halt Talks With Diamond on Barclays Africa Bid

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Johannesburg, Capital Markets in Africa: Talks between Carlyle Group LP and Bob Diamond’s Atlas Merchant Capital LLC about a joint bid for Barclays Plc’s African unit have stalled, people with knowledge of the matter said. Carlyle executives are concerned that Barclays might be reluctant to sell its stake in Barclays Africa Group Ltd. to a consortium including Diamond, who led the London-based bank until 2012, and that regulators would block a sale to a private-equity firm, said one of the people, who requested anonymity…

Fund Raising | ACA closes US$570mn private equity fund

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LAGOS, Capital Markets in Africa: African Capital Alliance (ACA) today announced that it has raised a total of approximately US$570mn of committed capital for its fourth private equity fund, Capital Alliance Private Equity IV Limited (“CAPE IV” or the “Fund”). As a result, ACA has become the first West Africa-focused fund manager to raise over US$1bn in aggregate capital commitments, since its formation in 1997. Over its nineteen-year history, ACA has built a strong and…

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