The Abraaj Group Raises US$990 Million for a Sub-Saharan Africa Fund (Sub-Saharan Africa)

Source: Financial Times, International Finance Corporation  |  Author(s): Simeon Kerr

Global growth markets investor The Abraaj Group has reached a final close for its Sub-Saharan Africa-focused Abraaj Africa Fund III with US$990 million in capital commitments, surpassing its original target of US$800 million. The fund intends to invest in mid-sized companies, diversified by sector, country and deal type. Investors in the fund include International Finance Corporation (IFC), which made a US$50 million commitment.