Private Equity |

Pembani Remgro Infrastructure Fund raises $245 Million to Power Africa

Johannesburg, South Africa (Capital Markets in Africa):- The Pembani Remgro Infrastructure Fund, announced today that it has achieved a successful first closing of $245 million. In addition, the Fund has received a further commitment equal to 20% of the fund size, capped at $100 million, from the Overseas Private Investment Corporation (OPIC). The formal fundraising process commenced in May 2014, with the aim of achieving final close during 2015 at a target fund size of…

AfDB approves US$50mn investment in CEC Africa Investments

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Lagos, Nigeria (Capital Markets in Africa):- The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, April 29, 2015, a USD 50 million investment in CEC Africa Investments Limited, a multinational power company headquartered in Nigeria and Zambia. CEC Africa (CECA) seeks to acquire and develop distribution and transmission assets and complementary greenfield generation projects throughout Sub-Saharan Africa. By investing across the energy value chain (generation, transmission, and distribution), CECA aims to…

Helios invests US$100mn in Africa Oil Corp.

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London, (Capital Markets in Africa):- Funds advised by Helios Investment Partners (“Helios”) have agreed to invest $100m for a 12.4% stake in Africa Oil Corp. (“Africa Oil” or “the Company”). Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia as well as Puntland (Somalia) through its equity interest in Africa Energy Corp. The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”….

Sovereign wealth fund’s AUM at $6 trillion at end- March 2015

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London (Capital Markets in Africa):- The 2015 Preqin Sovereign Wealth Fund Review reveals that majority of sovereign wealth funds globally have increased their assets under management over the course of 2014. The growth in assets, up from USD5.38tn in October 2013 to USD6.31tn in March 2015, has been driven by continued funding from governments and reserves, as well as from investment returns. This growth has also been in the headwind of falling oil prices, one…

U.S. Brookstone to invest $750 mln in Ivory Coast hydro project

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- U.S. private equity firm Brookstone Partners plans to invest up to 450 billion francs CFA ($750 million) in three hydroelectric dams in Ivory Coast through its Moroccan arm Platinum Powers, a company executive said on Wednesday. Kamal Abdelhafid, engineer and strategic director of the group, told Reuters in the Ivorian commercial capital Abidjan that the projects aim to meet rising power demand in francophone West Africa’s biggest economy….

New York Pension Fund to Invest up to 3% of its assets in Africa

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London (Capital Markets in Africa):- At a conference in London last week, Vicki Fuller, the Chief Investment Officer of the New York State Common Retirement Fund, revealed that it is planning to allocate as much as 3% of its assets, (approximately $5 billion), to investing in Africa over the next 5 years. Private equity, venture capital, infrastructure and real estate opportunities all look set to benefit. With priority being given to managers with offices in African…

European investors support Vantage Capital with $75m

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Vantage Capital, Africa’s leading mezzanine debt provider, today announced that the DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (“DEG”) and four other European investors are contributing a total of approximately $60m to Vantage’s third fund. DEG’s commitment to Fund III is $20m. In addition the DEG is providing $15m to a co-investment with Vantage in Surfline Communications, the leading 4G LTE network operator in Ghana. Vantage invested $15m in Surfline from its second fund late…

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