LP commits $25m to Development Partners International's third fund

Dutch development financier FMO has approved a $25 million investment in the African Development Partners III (ADP III) fund, managed by private equity firm Development Partners International (DPI).

DPI's strategy is to build a diversified pan-African portfolio of private equity investments in established and growing companies benefiting from Africa's fast-growing, middle class.

ADP III is expected to invest $40 million to $120 million in eight to 14 different companies.

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