Thursday, 18 December 2014
Last updated 13 hours ago
Jun 5 2014 | 10:30am ET
Kohlberg Kravis Roberts has moved into, for it, uncharted territory with its first-ever investment in Africa.
The private-equity giant has taken a stake in Ethiopia’s Afriflora, which grows roses for sale in the European market. Nor is KKR alone: P.E. investment in sub-Saharan Africa jumped 43% last year, to US$1.6 billion.
KKR will invest about US$200 million from its European fund in Afriflora. The money will be used to increase the company’s size by two-thirds and to add some 5,000 employees. The farm’s founders, a Dutch family named Barnhoon, will continue to manage the operation and will remain investors in the company.
“We see Africa as a long-term attractive investment destination,” KKR’s head for the continent, Kayode Akinola, said. “The potential is astounding. But the work to get there is going to be considerable.”
KKR added Kayode from Helios Investment Partners last year. He will join Afriflora’s board, along with another KKR executive, Matteo Bozzo.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.