The 5 most popular stories on Africa Private Equity News this week
Here are summaries of the five most widely read stories this week on Africa Private Equity News.
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Here are summaries of the five most widely read stories this week on Africa Private Equity News.
1. General Atlantic to acquire Actis
American private equity firm General Atlantic will acquire infrastructure investor Actis. Financial terms for the transaction are not being disclosed.
Under the terms of the agreement, Actis will become the sustainable infrastructure arm within General Atlantic’s global investment platform. Read the full article
2. IFC backs African infrastructure fund
The International Finance Corporation (IFC) has announced a $20 million equity investment in the Africa50 Infrastructure Acceleration Fund (IAF Fund), which will invest in digital infrastructure, renewable power and energy, transportation, logistics, and water and sanitation projects.
The fund aims to invest in projects across Africa, where the private sector is playing an important role supporting infrastructure development.
The fund’s first close secured $222.5 million in commitments, including from 16 African institutional investors. The fund’s final target close is $500 million. Read the full article
3. South Africa: Convergence Partners to acquire Datacentrix
Convergence Partners has announced that its Convergence Partners Digital Infrastructure Fund (CPDIF) has entered into a definitive agreement with Alviva Holdings to acquire 100% of Datacentrix Group. The acquisition is alongside the existing Datacentrix management team that has led the company for over 20 years. Alviva is exiting Datacentrix pursuant to its delisting from the JSE in early 2023, to focus on its core operations in hardware distribution. Terms of the transaction were not disclosed.
Datacentrix provides ICT integration services and solutions to the public sector and blue-chip corporates in South Africa. Read the full article
4. DEG signs investment in Adenia private equity fund
German development finance institution DEG has disclosed an equity investment of $20 million in the Adenia Capital V fund.
Adenia V is the fifth fund managed by Adenia Partners, founded in 2002. Adenia is a private equity firm focused on control investments in mid-cap businesses in Africa and an existing DEG partner. The manager has an on-the-ground presence in eight key markets in Africa (Kenya, Madagascar, Ghana, Côte d’Ivoire, South Africa, Nigeria, Morocco and Mauritius). Adenia has executed over 30 investments across the four predecessor funds totalling about $400 million. Read the full article
5. Egypt: PE firm Ezdehar backs apparel retailer
Ezdehar Management, an Egypt-based private equity firm, has purchased a majority stake in SETA Textiles through its Ezdehar Mid-Cap Fund II.
The investment falls within Ezdehar’s strategy of investing in and supporting mid-cap companies undergoing transformative growth and marks Ezdehar’s entry into the apparel retail sector. Read the full article
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