<p>EY's second annual study of value creation in Africa reveals an industry that is developing quickly, but in a measured way.</p>

<p>There is now little doubt that PE firms in the region are creating value, particularly through hands-on involvement in the companies they back. In fact, African PE outperforms the North American and European markets when calculating relative returns.</p>

<p>Although exits were down in 2013, the pipeline is filling as investments made in recent years become ready for sale. Those exits will provide further evidence of African PE&rsquo;s value-creating potential.</p>