PEA 2017 Review: Funds, Deals, Exits, People (Free content)

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African private equity deal-making turned in a surprisingly decent year against macro-economic volatility, patched liquidity and market uncertainty.

Particularly surprising was the volume of deals delivered in the large-cap space, with dealers closing a good number of sizeable deals.

Investors also grasped opportunity to structure their way through noteworthy exits, with a number walking away from their deals with happy returns.

This was against a cloudy fundraising that dropped to record lows, as murmurings around the validity of the African private equity opportunity intensified – and LPs increasingly turned their eyes to direct deals.

Nevertheless, GPs continued to forge along, with some jumping over interim closures.

As the industry enters 2018, Private Equity Africa looks at notable deals, exits, fund and people stories that coloured the market in 2017.


TA seals first Africa deal, buys from Helios

Carlyle completes $628m LBO

Helios in GBfoods deal

LeapFrog delivers $180m deal

Helios in $200m LBO

Australian PE firm in 1st Africa deal

Investec finalises secondary buyout

Milost seals $850m deal

Abraaj to buy large-cap deal from Ethos

US investor in $2bn leveraged deal

Milost finalises $300m deal


ECP exits Java to Abraaj

CDG returns 4.6x on exit

Stanchart in $265m exit to Japanese investor

DPI exits to Rabobank platform

Actis fully exits Edita

AfricInvest & Mediterrania exit to Investec

AfricInvest in IPO exit

Kinnevik exits at 90% IRR

Brait exits deal to Ethos

Capitalworks in $160m exit


AfricInvest fund closes with 11 LPs

Amethis sets up fund II

TPG & EchoVC launch vehicle

Africa fund hits $550m 1st close with 3 Danish pension funds

Ex UBS and Deutsche execs set up Africa Credit fund

Phatisa launches 3rd fund

Alibaba founder sets up Africa fund

Zebu touts new fund

AfricInvest hits 1st close at $162m

Momentum hits final close with 18 LPs


SAVCA names new CEO

Baird starts in head of PE role

CDC names new CEO

DEG names Bose for Africa funds

Atlas Mara co-founder steps down

Abraaj Africa CIO departs

Trump names OPIC head

Carlyle Africa hires DPI partner

DPI hires principal from KKR

Swedfund names new CEO



AfricInvest in early-stage deal