Sango Capital closes $120m secondary transaction
Sango Capital has acquired more than $120m in NAV in four African funds from an institutional investor rebalancing its global portfolio.
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Sango Capital has acquired more than $120m in NAV in four African funds from an institutional investor rebalancing its global portfolio. Sango funded the deal with its own capital and raised additional capital from a diverse group of commercial investors, including first-time Africa allocators.
The acquired portfolio spans financial services, consumer/FMCG, infrastructure, and light manufacturing, with physical presence in over 14 African markets.
Sango Capital’s co-founder and partner, Richard Okello, commented on the deal: “This transaction reflects everything Sango has built over 15 years: the analytical depth to underwrite complex African portfolios, the relationships to source off-market opportunities, the structuring expertise to create solutions for LPs and GPs navigating liquidity, and the local GP relationships to enable smooth asset transfers. We’re proud to have delivered for the seller, brought new institutional capital into Africa, and we are well positioned to generate significant value for our investors.”
Charles Mwebeiha, co-Founder and partner at Sango Capital, added, “Global institutional investors have long cited liquidity and exit concerns around investing in Africa. That is changing as the ecosystem matures. This landmark transaction is one of several that the team at Sango is working on to accelerate the delivery of liquidity and portfolio solutions for investors at scale.”
** Read/watch our in-depth interview with Sango co-founder Richard Okello: Where Sango Capital sees opportunity in Africa
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