Private equity fund manager Phatisa has invested in Meridian Group, a manufacturer and distributor of specialized fertilizer blends with operations in Mozambique, Malawi, Zimbabwe, Zambia and Mauritius. The transaction was structured through Phatisa’s African Agriculture Fund. Meridian Group intends to use the funding to support its expansion plans. Financial details… Read More
Adenia Partners, a private equity fund manager focused on West Africa and the Indian Ocean region, has acquired Mauritius-based Mauvilac, a paint, coatings and chemical products manufacturer and marketer, from the company’s founders and other Mauritian shareholders. The transaction was structured through Adenia Capital (III), a US$125 million fund that… Read More
Frontier markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based meat processing company Manoah Investments. The transaction was structured through XSML’s Central Africa SME Fund. The capital will be used to develop plots of land for residential use in Lubumbashi. Financial details of the transaction… Read More
Vital Capital Fund, an impact investing fund primarily focused on Sub-Saharan Africa, has closed a US$16.6 million equity investment in Angola-based medical clinic Luanda Medical Center (LMC). Vital Capital’s investment was made in conjunction with a US$9.8 million loan from the Overseas Private Investment Corporation (OPIC). LMC, which will begin… Read More
Mezzanine-focused private investment fund manager Vantage Capital has provided mezzanine financing to South Africa-based Austell Laboratories, a 100 percent black-owned pharmaceutical company. The transaction was structured through Vantage's Fund II. Austell intends to use the financing to fund its working capital needs and to expand its range of products. Financial… Read More
International Housing Solutions (IHS), an investment firm focused on residential housing, has reached a first close on its second affordable housing fund, IHS Fund II, with ZAR1.5 billion (approximately US$138 million) in capital commitments. Investors included Overseas Private Investment Corporation, National Housing Finance Corporation, International Finance Corporation, Global Environmental Facility,… Read More
Emerging markets financial services investor LeapFrog Investments has closed its second fund with US$400 million in capital commitments. Investors in the final close, which was oversubscribed, included AIG, Alliance Trust, AXA, HESTA, RGA Reinsurance and Zurich Insurance Group. The new fund will make equity investments of US$10 million to US$50… Read More
East Africa-focused private equity firm Catalyst Principal Partners has invested in retail pharmacy chain Mimosa Pharmacy alongside Chris Getonga, the founder of Mimosa, and Africa Chemist and Beauty Care, an investor planning to build an East African pharmacy chain. Mimosa Pharmacy intends to use the funds to expand across commercial… Read More
Agriculture-focused private equity firm Injaro Investments has reached a final close on Injaro Agricultural Capital Holdings, its West Africa-focused impact-oriented fund, with total capital commitments of US$49 million. Final closing commitments of US$15 million, US$10 million and US$7 million were received from development finance institutions CDC, via its DFID Impact… Read More
The twelfth issue of the EMPEA Legal and Regulatory Bulletin echoes the dynamic, fluid nature of the emerging markets regulatory landscape. In this issue we explore how country-specific regulatory developments are creating challenges and opportunities for private equity investors and practitioners. The issue specifically looks at recent developments in Brazil,… Read More
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