Vantage’s Fund II Provides ZAR90 Million in Mezzanine Debt Funding for the Acquisition of Reatile Timrite (Sub-Saharan Africa)

Vantage Risk Capital, a subsidiary of private equity fund manager Vantage Capital Group, has provided ZAR90 million (approximately US$8.7 million) in mezzanine debt funding for the 100 percent acquisition of Reatile Timrite (Timrite), a South Africa-based supplier of mining support products, by African investment management firm Thebe Investment Corporation… Read More

Legal & Regulatory Bulletin – Issue No. 9, Summer 2013

At its May meeting in Washington, EMPEA’s Legal and Regulatory Council discussed the regulatory changes facing the private equity industry and the likely impact of those changes on the membership of EMPEA. The Council concluded that some of the changes, such as the European Alternative Investment Fund Managers Directive (AIFMD),… Read More

The Legal Challenges of Private Equity Deal Making in Africa

Private equity is a longstanding component of Africa’s economic landscape. However, strong growth, an expanding middle class, and a global trend that is seeing more investors seeking growth from a broader and more varied range of markets is driving an increased interest in the region. In 2007, Sub-Saharan Africa… Read More

Actis Buys African Payments Business for US$95 Million (Sub-Saharan Africa)

Pan-emerging markets private equity firm Actis will acquire a 100 percent stake in Paycorp, a South Africa-based payments business, together with the company’s management team for US$95 million. Actis and the management will purchase the stake from financial services group Transaction Capital, which bought the company in 2006. Paycorp… Read More

Capitalworks Raises ZAR2.7 Billion for South African Investments (Sub-Saharan Africa)

South African alternative asset management firm Capitalworks has raised ZAR2.7 billion (approximately US$275 million) for Capitalworks Private Equity Fund II. The fund, which was oversubscribed, attracted commitments from global institutional investors, high net-worth families and charities. Capitalworks plans to invest in mid-market South African companies operating in sectors such… Read More

XSML Invests in Supermarket and Bakery Rehoboth (Sub-Saharan Africa)

Frontier markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based Rehoboth, a supermarket and bakery. Rehoboth intends to use the capital injection to purchase a larger building and new industrial bakery equipment. Financial details of the transaction, which was structured through XSML’s Central Africa… Read More

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