The 5 most popular stories on Africa Private Equity News the past week
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
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Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Old Mutual Private Equity exits Holdsport to UK-based retail giant
UK-based retail giant, Frasers Group, has acquired South African sporting, outdoor and recreation goods company, Holdsport, from Old Mutual Private Equity and Holdsport’s management.
Holdsport is a diversified business operating across retail, wholesale, manufacturing, distribution, and e-commerce, focused on the sport, outdoor, and recreation sectors across South Africa and Namibia. It is home to Sportsmans Warehouse, a sporting goods chain in the region, and Outdoor Warehouse, an outdoor, camping, hiking, adventure retailer. It also owns Shelflife, a South African sneaker and streetwear store. For Holdsport's financial year ended February 2024, sales generated exceeded ZAR3 billion (£130 million). Read the full article
2. LeapFrog announces fundraising close for fourth fund
LeapFrog Investments has announced the close of its fourth fund (Fund IV), with commitments and designated co-investments totalling $1.02 billion. LeapFrog’s initial target for Fund IV was $1 billion.
The fundraise includes $808 million of primary fund commitments and up to $210 million of pre-allocated co-investment to accelerate high-impact healthcare and financial services companies in global growth markets. Read the full article
3. SPE Capital confirms its investment in Dislog Group
Following approval from the Moroccan competition authority, SPE Capital Partners has made a MAD 350 million (about $35 million) investment in consumer goods company Dislog Group through its AIF I Fund. This amount should be complemented by an additional co-investment of MAD 100 million (about $10 million) from an international financial institution, bringing the total investment to MAD 450 million (about $45 million).
Nabil Triki, managing partner and CEO of SPE Capital, stated: “We are pleased to invest alongside our partner in Dislog Group. We were shareholders of H&S between 2019 and 2021 and are delighted to see the group’s progress and growth in recent years. We aim to grow together with the goal of successfully achieving an IPO on the Casablanca Stock Exchange within the next two to three years.” Read the full article
4. First close for Ninety One’s Africa Credit Opportunities Fund 3
Ninety One has announced the first close of its Africa Credit Opportunities (ACO) Fund 3.
Anchor limited partners in the fund include the International Finance Corporation, British International Investment, and the Swiss Investment Fund for Emerging Markets (managed by responsAbility), with Standard Bank of South Africa as the credit provider.
ACO Fund 3’s first close has $260 million of committed capital to make private credit investments in market-leading companies and infrastructure entities in Africa and other emerging markets. Read the full article
5. Proparco and Admaius Capital Partners back medical school in Senegal
French development finance institution Proparco has partnered with Admaius Capital Partners to support Senegal’s Saint Christopher Iba Mar Diop Medical School through the FISEA+ facility.
Established in Dakar in 2003, Saint Christopher has grown up into one of the largest private medical training institutions in francophone Africa, with over 2,000 students currently enrolled in medicine, pharmacy, and dentistry programmes. Read the full article
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