Release date: 13 October 2020
Promoter – Financial Intermediary
SPECIAL PURPOSE ENTITY(IES)/FUNDLocation
Description
Equity participation in AfricInvest Fund IV (the "Fund"), a pan-African, generalist, closed-ended private equity fund targeting mainly growth capital investments in small and medium-sized companies. The Fund will be managed by AfricInvest (the "Manager").
Objectives
The investment strategy builds on the one that has been adopted in three predecessor funds. The Fund aims to build a diversified pan-African portfolio of private equity investments in growing and profitable companies with emphasis on those that are leaders in local markets across Africa. The Fund will adopt a hands-on approach by seeking to acquire influential positions through minority stakes with strong protections and selective majority transactions. It will seek to add value by enhancing governance mechanisms and helping portfolio companies to expand in new markets.
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
USD 50 million (EUR 41 million)
Total cost (Approximate amount)
USD 400 million (EUR 328 million)
Environmental aspects
The Fund will operate in line with the EIB's environmental and social standards.
Procurement
N/A
Status
Signed - 15/10/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).