Private Equity |

Private Equity | Helios signs $115.8 million agreement with Oando PLC

LAGOS, Capital Markets in Africa: Oando PLC ( Oando or the Group), an integrated oil and gas company headquartered in Nigeria, has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP (Helios), to acquire 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited (OGP). The agreed transaction consideration of US$115.8mn is conditional upon the receipt of regulatory approvals and…

Private equity in Africa loses its shine

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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…

Proparco invests in Sub-Saharan African insurance company

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Yaounde, Capital Markets in Africa: The insurance sector is an engine for the economic and social development of Africa. It is for this reason that Proparco is supporting the expansion of Activa Group via an equity investment. Proparco has committed a EUR10mn equity investment in Activa Group to support its development in Sub-Saharan Africa. Activa Group was set up in Cameroon in 1998 and is a major insurance player (life and non-life) in Sub-Saharan Africa….

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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