Convergence Partners Holds a US$145 Million First Close on Africa-focused ICT Infrastructure Fund (Sub-Saharan Africa)

Africa-focused investment management firm Convergence Partners has reached a first close on Convergence Partners Communications Infrastructure Fund (CPCIF) with US$145 million in capital commitments. Investors include development finance institutions International Finance Corporation, European Investment Bank, Netherlands Development Finance Company, Development Bank of Southern Africa and CDC Group. CPCIF, which… Read More

Capitalworks Backs South Africa-based Much Asphalt (Sub-Saharan Africa)

South Africa-based alternative asset management firm Capitalworks has led a consortium of investors to acquire a 100 percent stake in Much Asphalt, a South Africa-based supplier of hot mix asphalt to the construction industry. The consortium, which includes Mineworkers Investment Company (MIC) and senior executives of Much Asphalt, purchased… Read More

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