South Africa-focused private equity firm PAPE Fund Managers has reached a final close for PAPE Fund III with ZAR950 million (approximately USD62 million) in commitments. Investors in the fund include South African asset manager Public Investment Corporation, development finance institution FMO, funds of funds 27four Investment Managers and SA SME Fund, multi-family office Rosebank Wealth Group, Eskom Pension & Provident Fund, and the Transport Sector Retirement Fund. PAPE Fund III will target small and medium-sized enterprises in the manufacturing, telecommunications, infrastructure, logistics, food security, tourism, leisure, and medical sectors across Southern Africa.