Emerging Capital Closes $523M Africa Fund

May 25 2007 | 11:40am ET

Emerging Capital Partners, an international private equity firm focused on Africa, recently held a final close of its EMP Africa Fund II PCC (Africa Fund II) with total commitments of US$523 million. It is the largest private equity fund ever raised for investments in the region, according to the firm.
 
Africa Fund II will take positions in companies through equity, quasi-equity and convertible debt instruments, with a focus on telecommunications, natural resources, financial services, agribusiness, transportation and utility businesses.  While the fund will invest in companies with operations throughout Africa, the focus will be on larger markets, such as Nigeria, South Africa, Egypt and Kenya.
 
ECP has already made several investments through Africa Fund II, including Anvil Mining Limited (based in the Democratic Republic of Congo) and Bank of Africa. 

"We focus on sectors where Africa has a comparative advantage or where Africa has typically lagged developed markets,” said Thomas Gibian, CEO of ECP. “ECP can then play a variety of roles from a pure financial investor to a co-developer prior to entering the business, providing anything from executive recruiting and financial advisory services, to active board representation and strategic guidance on exit opportunities.”

Headquartered in Washington D.C., Emerging Capital Partners has been investing in Africa since 2000, initially as part of EMP Global before spinning out in 2005.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.