Jacana To Merge With Kenyan Private Equity Shop, Launch New Fund

Jan 30 2013 | 12:47pm ET

Private equity firm Jacana Partners is to merge with a Kenyan firm as it plans a new fund focuses on Africa.

Jacana and InReturn Capital will combine their operations by April. The two firms have been working together for three years, with InReturn co-managing one of Jacana's two existing African funds. The merger will give Jacana, which is based in London and manages US$43 million, offices in Nairobi, Kenya, and Dar es Salaam, Tanzania.

The combined company plans to raise a new US$75 million fund to invest in small- and mid-sized African business, in at least eight countries. Among the countries under consideration are Ethiopia and Nigeria, with plans to deploy between $1 million and $5 million to each target company, Bloomberg News reports.

Jacana CEO Simon Merchant said the expanded firm aimed to profit from Africa's growing population and middle class.

The firm plans to raise money primarily from development finance institutions. Eventually, Jacana hopes to attract American and European high net-worth and institutional investors.


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...