Industry Newsroom

AfricInvest Reaches Second Close for Maghreb Private Equity IV (MENA)

Pan-African private equity fund manager AfricInvest has held a second close for Maghreb Private Equity IV with EUR172 million (approximately US$199 million) in capital commitments. New investors in the fund include OeEB, the Development Bank of Austria, and a South Africa-based fund of funds. Other investors include development finance institutions FMO, IFC, AfDB and SIFEM. The fund aims to raise EUR200 million (approximately US$232 million) in total commitments and will invest in small and medium-sized enterprises in North Africa.