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Africa brought in over $2B in closed private equity funds -report

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November 28
10:09 PM 2013

Industry publication Private Equity Africa said Africa raised more than USD2 billion in closed private equity funds from January to September. The publication for fund managers and investors said this amount already exceeded full-year figures for 2012, according to Ventures Africa.

The publication said the latest figures are based on data provided by alternative assets intelligence firm Preqin. The said figures are exclusively supplied to Private Equity Africa, the report said.

This year's figures have been led by fund closures at the start of the year. Ethos closed USD800 million in funds, Private Equity Africa said. Vital Capital secured USD350 million. A debut fundraiser by Phatisa closed another USD243 million, said the report.

The said figures do not include interim closing from some of the largest funds in the industry. They only indicate final closures. Private Equity Africa research said Carlyle has already passed its original target and will reach USD700 million by the end of the year, the report stated.

The business publication's report shows that the figures do not include Development Partners International. The firm has raised over USD400 million in its first closing. Amethis also closed USD290 million during the year, Ventures Africa reported.

Gail Mwamba, the publication's Managing Editor, said: "Improved LP sentiment has also underpinned the launch of Abraaj's $800 million Africa-focused vehicle which is twice the size of its predecessor. Expectations are that 2014 will be an even more positive year, with expected final closes from groups such as Carlyle."

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