The Carlyle Group is spinning out its Africa-focused senior executive team to set up Alterra Partners, an independent buyout firm. Alterra will manage Carlyle’s USD698m Sub-Saharan Africa fund as a sub-advisor and will continue to invest with Carlyle’s international energy fund on the continent. Carlyle will hold no stake in Alterra, but it will provide deal referrals, advice, and take part in co-investment opportunities. Read more