South Africa’s 27four Investment Managers has announced the second close of the 27four Black Business Growth Fund II (27four BBGF II) with total capital of R710 million ($40.4 million).

The second close includes commitments from the Consolidated Retirement Fund for Local Government and the Rand Water Provident Fund, as well as further capital from the Jobs Fund.

BBGF II is a blended finance partnership between the South African government through the Jobs Fund, and...