African Capital Alliance (ACA) announces the first closing of USD 200 million for Capital Alliance Private Equity III (“CAPE III”), a private equity fund which seeks to tap high potential opportunities in sectors such as financial services, oil and gas, power (electricity) supply, communications, manufacturing and services in Nigeria and the West African sub-region. African Capital Alliance mobilizes long-term capital from institutional investors to promote private sector led investments.
The investors in CAPE III include well-known international development finance institutions such as CDC Group, the European Investment Bank, the International Finance Corporation, and Netherlands Development Finance Corporation. In addition, commitments have been made by Nigeria-based institutional investors including First Trustees Nigeria Plc, AIICO Insurance Plc, Africa Re-insurance Corporation and some high net worth individuals.
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