Cauris Management Exits Atlantic Business International (Sub-Saharan Africa)
Posted On: 29 Sep 2016 | Source: Cauris Management
West Africa-focused private equity fund manager Cauris Management has sold its stake in Côte d’Ivoire-based banking group Atlantic Business International (ABI) to Morocco-based credit institution Banque Centrale Populaire. Cauris originally invested in ABI through Cauris Croissance II and reportedly generated a 1.7x cash multiple at exit. Separately, Cauris has sold its stake in Côte d’Ivoire-based Bridge Bank Group Côte d’Ivoire (BBG-CI) to West Africa and Central Africa-focused investor Teyliom Group. Cauris originally invested in BBG-CI through Cauris Croissance and reportedly generated a 3.1x cash multiple at exit. Financial details of both transactions were not disclosed.