CDC Smitten By Africa Private Equity Funds

Jul 10 2008 | 10:33am ET

CDC Group has made new commitments totaling US$149.8 million to six private equity funds in Africa that are expected to raise a total of US$479 million for investment in the region.

CDC’s latest commitments bring its overall commitment in Africa to US$2.6 billion to date. Last year, CDC committed US$714 million to funds investing in Africa.

The U.K.-based government-owned fund of funds new commitments include: US$30 million to GroFin Africa Fund; US$30 million to Travant Private Equity Fund I; US$20 million to Capital Alliance Property Investment Company; US$31 million to SGAM Al Kantara Fund; US$31 million to Maghreb Private Equity Fund II; and  US$7.8 million to Central Africa Growth Sicar.

“These commitments include a number of ‘firsts’: the first pan-Africa fund investing in small enterprises, the three first time teams covering real estate in West Africa, private equity in West and Central Africa, and private equity in the Maghreb,” said Rod Evison, portfolio director.

Jean-Marc Savi-de-Tove, portfolio director, noted that in Central Africa, p.e. is almost non-existent as an asset class, but it is increasingly being accepted by entrepreneurs wanting to grow their businesses.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

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

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...