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.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment