Pan-African private equity fund manager AfricInvest has reached a final close for Maghreb Private Equity IV with EUR194 million (approximately US$221 million) in capital commitments. The African Development Bank committed EUR20 million (approximately US$23 million) in this latest close. Other investors in the fund include development finance institutions CDC, EBRD, FMO, DEG, EIB, IFC, BIO, IFU, SIFEM, Proparco and OeEB, as well as a South Africa-based fund of funds. The fund will invest in small and medium-sized enterprises in North Africa.