Carlyle spins out Africa team to Alterra Capital – Bloomberg report

Global private equity group Carlyle is spinning out its sub-Saharan African team to a new firm, called Alterra Capital Partners, formed by the managers of its regional fund, according to a report by Bloomberg.

In 2014, Carlyle closed its Sub-Saharan Africa Fund with $698 million in committed capital. A few years ago, the fund revamped its strategy to concentrate on majority stakes and expand its geographic focus to include North Africa. The fund seeks control investments in upper-mid-market companies valued at $100 million to $200 million.

Carlyle is now stepping away from the fund after deciding against raising a follow-on fund.

Bloomberg states that "Alterra Capital Partners will assume the management of the fund as sub-advisors to Carlyle, which will continue to invest in the continent through a strategic relationship with the new firm and its international energy fund".

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