Closing of Africinvest III at Euro 154 million

10.10.2014

AF III is a 10-year private equity fund targeting Euro 200 million and is managed by AfricInvest, one of the longest standing and most successful private equity firms in Africa. The Fund will continue the successful, value-oriented investment strategy employed by previous funds, investing in small and midcap companies in Sub-Saharan Africa that are well-established in their local markets and exhibit the potential to scale their activities and develop into “regional champions.” AF III focuses on companies that operate in growing sectors that benefit from the region’sstrong economic growth, favorable demographic trends, and positive regulatory changes and reforms. Such sectors include fast-moving consumer goods (“FMCG”), financial services, IT and telecom, services, healthcare, education, transport, oil & gas, and agribusiness. Target companies typically have a strong focus on manufacturing for export and/or are positioned toexpand at the regional or continental level. The fund will benefit from AfricInvest's proactive, hands-on approach to working with portfolio companies with the objective of adding strategic value, instilling strong governance and ESG best practices, and expanding operations to create sizeable, sustainable businesses that can be listed on regional bourses, or are attractive to strategic acquirers. AfricInvest has a robust pipeline of investment opportunities which should lead it to meet its ambitious net return objectives for its limited partners.