Africa Data Insight (Year-End 2019)

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Over the last two years, established GPs returning to market have driven Africa-focused fundraising

Established Africa-focused fund managers returning to the market have driven fundraising for the continent since 2018. Led by the reopening of Meridiam’s infrastructure vehicle and the final close of Amethis’ second pan-Africa fund, fundraising for Africa in 2019 reached USD3.1 billion, on par with the previous year’s total. Meanwhile, the pace of private capital investment in Africa has yet to recover from its decline beginning in 2015 with the commodity cycle downturn. Tempered activity is partially the result of a dearth of dry powder, as Africa’s most active investors, such as Helios Investment Partners and Development Partners International, have been on the fundraising trail, but the slew of recent landmark exits may help to reshape the deal-making environment in the region.