Friday, 24 February 2017
Last updated 8 hours ago
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.