Mediterrània Capital II Reaches EUR90 Million First Close (MENA)

Source: Jeune Afrique

Mediterrània Capital Partners, a division of the Spanish financial group Riva y Garcia, has announced the first closing of Mediterrània Capital II with EUR90 million (approximately US$122 million) in capital commitments. Investors include development finance institutions International Finance Corporation, European Investment Bank and European Bank for Reconstruction and Development. The fund, which has a final target of EUR150 million (approximately US$204 million) intends to take minority stakes in ten to 12 mid-cap companies in Algeria, Morocco and Tunisia.