Atta Financial Update

Executive summary for the week of 07-Mar-17 to 14-Mar-17 (week 11)
The African Private Equity and Venture Capital Association is set to host its 14th annual conference for private equity operators, according to a statement released recently. About 500 private equity leaders are expected to attend the conference – which will hold on April 4th to 5th – in Abidjan, Cote d’Ivoire, making it the first time in ten years the conference will be held in Francophone Africa.

Some of the confirmed keynote speakers are: Daniel Kablan Duncan, Vice-President of Côte d’Ivoire; Michel Abrogoua, Founder, Chairman and Managing Partner, PCM Capital Partners; Christian Adovelande, President, Banque Ouest Africaine de Développement; Dr. Daniel Matjila, Chief Executive Officer, Public Investment Corporation; and Dr. Frannie Léautier, Senior Vice-President, African Development Bank Group.

Likely worth a look.

Fact: Alexander the Great once held a drinking contest among his soldiers. When it was over, 42 people had died from alcohol poisoning.

African Private Equity News (PE)
African focused private equity funds

TA Associates invests in Interswitch

 
  • TA Associates said it acquired a minority stake in Interswitch - financial terms were not announced
  • Interswitch, based in Lagos, is an Africa-focused digital payments company
  • Helios Investment Partners will remain the majority shareholder of Interswitch
  • As part of the deal, Ajit Nedungadi and Naveen Wadhera will join the company’s Board of Directors

 

Actis to hit the US$2.75 billion hardcap for its fourth energy fund

 
  • Actis Energy 4, acording to the London based PE firm, has raised its 4th fund entirely by an in-house team - exceeding the US$2billion target size in just over seven months and hitting US$2.75billion hardcap four months after initial close
  • The fund will invest in select countries in Latin America, Africa and Asia targeting control investments in electricity generation and distribution businesses
  • Actis’ previous global energy fund closed at US$1.15 billion in 2013
  • Neil Brown, partner and head of the Investor Development Group at Actis, said the fund raise was a testament to the strength of the relationships built between Actis and their investor base

 

Apis Partners announced the final close for their first fund

 
  • Apis Partners, a London based private equity firm beat their US$250 million target with US$287 million in commitments
  • Apis Growth Fund I will target investments seeking growth capital between US$20 million and US$40 million - with a particular focus on financial services investments
  • The fund has already deployed circa US$130 million in capital in 5 deals since it held its first close in August 2015

East African economic news (EAC)
BI, KE, RW, TZ, UG

CDC, IFC, Maris and Mbuyu to back Africa Logistic Properties

 
  • CDC, the IFC, Maris Capital and Mbuyu Capital Partners are jointly investing US$48 million in Africa Logistic Properties, a newly-established developer and manager of Grade A warehousing
  • The capital will be used to support the company’s warehousing developments in Nairobi




Southern African economic news (SADC)
AO, BW, LS, MW, MZ, SZ, ZM, ZW, [-TZ]

Sea Harvest is looking to raise up to US$100 million by floating 38.7% of its share capital on the Johannesburg Stock Exchang

 
  • Sea Harvest, the South African fishing company majority-owned by Brimstone Investments, is looking to raise up to US$100 million by floating 38.7% of its share capital
  • Earlier in the year, Brimstone had expanded its holding in Sea Harvest to 85% by acquiring Kagiso Strategic Investment’s stake
  • Following the listing, Brimstone still plans to retain a majority stake in the company

 

AFC announcing the successful US$350 million financial close for an 80MW peat-to-power plant

 
  • Africa Finance Corporation featured, announcing the successful US$350 million financial close for an 80MW peat-to-power project in Rwanda’s Gisagara district
  • AFC is the Mandated Lead Arranger for the project’s debt, which was also supported by Finnfund, Afreximbank and others