Development Partners International Holds US$250 Million First Close (Sub-Saharan Africa)

Source: Private Equity International  |  Author: Yolanda Bobeldijk

Africa-focused private equity firm Development Partners International (DPI) has held a first close on its second buyout fund at US$250 million, with a final target of US$500 million. Investors in the fund include the United States’ Overseas Private Investment Corporation, which will commit up to US$150 million. African Development Partners I, DPI’s previous fund that held a final close in December 2009, is reported to be fully invested.