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.
1. Dangote backs new African PE fund
Private equity firm Alterra has announced the first close of its Alterra Africa Accelerator Fund (AAA Fund) at $140 million. The fund has a target size of $500 million.
The AAA Fund has attracted first close commitments from the International Finance Corporation, Norfund, DEG, Standard Bank, Allianz AfricaGrow Fund, Carlyle co-founders David Rubenstein and Bill Conway, as well as African industrialist Aliko Dangote.
The AAA Fund will invest across the African continent, with a focus on technology, telecom, healthcare, logistics, consumer, and retail.
2. LeapFrog’s Emerging Consumer Fund, targeting $1bn, will hold final close in Feb 2024
LeapFrog Investments has raised a significant share of its Emerging Consumer Fund IV, which has a target of $1 billion, and will close the fund on 29 February 2024.
LeapFrog’s Fund IV has been backed by Temasek, life insurer AIA, Prudential Financial, Eli Lilly and Company, the International Finance Corporation, the European Investment Bank, Van Lanschot Kempen, and the Ford Foundation, to name a few
Fund IV is a growth equity fund that invests in rapidly scaling financial services and healthcare businesses in global growth markets. The fund has already completed three investments.
3. South Africa: Sanari Capital fund reaches $65m second close
South African private equity firm Sanari Capital has successfully raised R1.25 billion (c. $65 million) for its growth fund.
This marks the second closing for the Sanari 3S Growth Fund as the firm edges closer to its goal of reaching a final close equivalent of up to $100 million.
New investors in this closing include South Africa’s Public Investment Corporation (PIC), the largest asset manager on the African continent, and Alexforbes Investments.
4. CDG Invest Growth in fertiliser deal
CDG Invest Growth (CIG ), through its CapMezzanine III Fund, has acquired a stake in Morocco-based fertiliser distributor Agri Trade Maroc (ATM).
This equity participation is the third investment made by the CapMezzanine III Fund, which was raised by CDG Invest Growth in 2021.
5. Bamboo Capital Partners appoints CEO
Bamboo Capital Partners has appointed impact investing and asset management executive David Grimaud as its new chief executive officer.
After sixteen years with the company, Bamboo founder Jean-Philippe de Schrevel is stepping away from the business.
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