- MacFarlane Partners
San Francisco, CA
Capital Under Management* 20,100.000 - Fairview Capital Partners Inc.
West Hartford, CT
Capital Under Management* 2,600.000 - Vista Equity Partners
San Francisco, CA
Capital Under Management* 2,000.000
Number of Funds: 2 - MayfieldGentry Realty Advisors L.L.C.
Detroit, MI
Capital Under Management* 953.000
Number of Funds: 1
Total Number of Portfolio Companies: 1 - UrbanAmerica L.P.
New York, NY
Capital Under Management* 520.000
Number of Funds: 2
Total Number of Portfolio Companies: 2 - Pharos Capital Group L.L.C.
Dallas, TX
Capital Under Management* 500.000
Number of Funds: 3
Total Number of Portfolio Companies: 3 - ICV Capital Partners L.L.C.
New York, NY
Capital Under Management* 443.000
Number of Funds: 2
Total Number of Portfolio Companies: 2 - SYNCOM Venture Partners
Silver Spring, MD
Capital Under Management* 410.000
Number of Funds: 2
Total Number of Portfolio Companies: 2 - Smith Whiley & Co.
Hartford, CT
Capital Under Management* 270.000
Number of Funds: 3
Total Number of Portfolio Companies: 3 - Ascend Venture Group L.L.C.
New York, NY
Capital Under Management* 150.000
Number of Funds: 2
Total Number of Portfolio Companies: 2 - Opportunity Capital Partners
Fremont, CA
Capital Under Management* 135.000
Number of Funds: 4
Total Number of Portfolio Companies: 4 - Black Enterprise Greenwich Street Corporate Growth Management L.L.C.
New York, NY
Capital Under Management* 91.000
Number of Funds: 1
Total Number of Portfolio Companies: 1 - 21st Century Group L.L.C.
Dallas, TX
Capital Under Management* 80.000
Number of Funds: 1
Total Number of Portfolio Companies: 1 - Meridian Management Group Inc.
Baltimore, MD
Capital Under Management* 50.000
Number of Funds: 3
Total Number of Portfolio Companies: 3 - United Enterprise Fund L.P.
New York, NY
Capital Under Management* 41.000
Number of Funds: 1
Total Number of Portfolio Companies: 1
* In Millions of Dollars to the nearest thousand. As of Dec. 31, 2007 Prepared by B.E. Research.
Wednesday, August 20, 2008
2008 Black Enterprise Top Private Equity
Wednesday, August 13, 2008
West Africa's positive developments for private equity
West Africa region, often known as the place of political instability, has in the past month been home to several developments for dealmaking in the private equity industry.
For decades, West Africa – defined by the United Nations as 16 nations in the northwest portion of the continent stretching from Nigeria in the southeast to Mauritania in the northwest – had among other difficulties seen its business community face the dual challenges of poor corporate governance standards and a shortage of available capital.
Public markets like Nigeria’s, the largest in the region, are providing solution to those problems. The maturation of the Nigerian stock exchange has been important, and it’s been important not only for the value associated with having a market that is large enough to permit Emerging Capital Partners (ECP) to exit some fairly meaningful investments.
But the value of the stock exchange, the improvement of the stock exchange goes beyond that because it really suggests a number of things: an improved regulatory environment, that there are more local institutions that are keeping money in Nigeria and investing in Nigerian companies rather than taking money abroad. The country’s deregulation efforts in the financial sector as a major growth driver, not only for Nigeria but for the rest of the region as other West African countries consider similar regulatory changes.
ECP has owned or currently owns several portfolio companies on the Nigerian exchange, which has grown its annual value traded from $2 billion in 2005 to $17 billion in 2007, according ECP. Those companies include Continental Re, one of the largest reinsurance companies in Nigeria, and Ecobank, which is also listed on the Ghana and Cote d’Ivoire exchanges.
Although lacking its own exchange, war-torn Liberia has also publicised policy efforts in recent weeks that could make it a fresh destination for private equity activity.
Earlier this month, the Liberian Electricity Corporation disclosed that it was seeking roughly $200 million in private investment to repair a primary hydroelectric facility. The call for private capital is part of the Liberian government’s broader program to funnel money into the nation’s decrepit energy infrastructure.
Private equity involvement in sub-Saharan African energy infrastructure is not without precedent.
For decades, West Africa – defined by the United Nations as 16 nations in the northwest portion of the continent stretching from Nigeria in the southeast to Mauritania in the northwest – had among other difficulties seen its business community face the dual challenges of poor corporate governance standards and a shortage of available capital.
Public markets like Nigeria’s, the largest in the region, are providing solution to those problems. The maturation of the Nigerian stock exchange has been important, and it’s been important not only for the value associated with having a market that is large enough to permit Emerging Capital Partners (ECP) to exit some fairly meaningful investments.
But the value of the stock exchange, the improvement of the stock exchange goes beyond that because it really suggests a number of things: an improved regulatory environment, that there are more local institutions that are keeping money in Nigeria and investing in Nigerian companies rather than taking money abroad. The country’s deregulation efforts in the financial sector as a major growth driver, not only for Nigeria but for the rest of the region as other West African countries consider similar regulatory changes.
ECP has owned or currently owns several portfolio companies on the Nigerian exchange, which has grown its annual value traded from $2 billion in 2005 to $17 billion in 2007, according ECP. Those companies include Continental Re, one of the largest reinsurance companies in Nigeria, and Ecobank, which is also listed on the Ghana and Cote d’Ivoire exchanges.
Although lacking its own exchange, war-torn Liberia has also publicised policy efforts in recent weeks that could make it a fresh destination for private equity activity.
Earlier this month, the Liberian Electricity Corporation disclosed that it was seeking roughly $200 million in private investment to repair a primary hydroelectric facility. The call for private capital is part of the Liberian government’s broader program to funnel money into the nation’s decrepit energy infrastructure.
Private equity involvement in sub-Saharan African energy infrastructure is not without precedent.
Starcomms exit nets Emerging Capital Partners 2.9 times
Emerging Capital Partners has made 2.9 times its original investment in Starcomms, a Nigerian mobile telecommunications operator.
The Africa-focussed private equity firm sold its position in the company via an N64.35 billion ($547 million; €348 million) private placement preceding a listing on the Nigerian Stock Exchange, the first such listing of a telecom company.
The transaction resulted in proceeds of approximately $99 million (€63 million. ECP has invested a total of $34.3 million in Starcomms since 2005, when it teamed with emerging markets-focussed firm Actis to acquire a majority stake in the company for $43.2 million.
ECP and Actis helped the company expand its telecom infrastructure and subscribers from 100,000 to 1.5 million. It is Nigeria’s largest CDMA 3G mobile operator, and the country’s fourth largest telecom operator.
The investment by was made through the firm’s AIG African Fund Infrastructure Fund, which closed on $407 million in 2000.
The Africa-focussed private equity firm sold its position in the company via an N64.35 billion ($547 million; €348 million) private placement preceding a listing on the Nigerian Stock Exchange, the first such listing of a telecom company.
The transaction resulted in proceeds of approximately $99 million (€63 million. ECP has invested a total of $34.3 million in Starcomms since 2005, when it teamed with emerging markets-focussed firm Actis to acquire a majority stake in the company for $43.2 million.
ECP and Actis helped the company expand its telecom infrastructure and subscribers from 100,000 to 1.5 million. It is Nigeria’s largest CDMA 3G mobile operator, and the country’s fourth largest telecom operator.
The investment by was made through the firm’s AIG African Fund Infrastructure Fund, which closed on $407 million in 2000.
Tuesday, August 12, 2008
ECP nearing first close on $1bn Africa fund
The private equity firm will likely hold a first close on more than $523m, topping its entire previous fund. Launched in the second quarter of this year, the fund will be one of the largest dedicated pan-Africa funds raised to date if it meets its target.
Private equity firm Emerging Capital Partners is targeting a record $1 billion (€642 million) for its latest pan-African vehicle.
ECP is nearing full deployment of ECP Africa II, closed in May 2007. Its investors included the International Finance Corporation and UK-government backed fund of funds CDC.
Merrill Lynch began marketing the $1 billion fund in the second quarter of this year. If the firm succeeds in reaching its target, ECP would lay claim to one of the largest pan-African private equity funds ever raised.
South African investment firm Harith is nearing a final close on a $1 billion pan-African infrastructure development fund, according to Probitas Partners. South-Africa based Pamodzi Investment raised a $1.3 billion mining-focused pan-Africa fund last year.
Private equity firm Emerging Capital Partners is targeting a record $1 billion (€642 million) for its latest pan-African vehicle.
ECP is nearing full deployment of ECP Africa II, closed in May 2007. Its investors included the International Finance Corporation and UK-government backed fund of funds CDC.
Merrill Lynch began marketing the $1 billion fund in the second quarter of this year. If the firm succeeds in reaching its target, ECP would lay claim to one of the largest pan-African private equity funds ever raised.
South African investment firm Harith is nearing a final close on a $1 billion pan-African infrastructure development fund, according to Probitas Partners. South-Africa based Pamodzi Investment raised a $1.3 billion mining-focused pan-Africa fund last year.
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