Private Equity |

Nigeria’s Verod Capital in Union Trustees Limited Management Buyout

Verod Capital has along with the management team of Union Trustees Limited acquired Union Trustees Limited. This is the third investment in Verod Capital’s Fund II. The company, a fully owned subsidiary of Union Bank of Nigeria is duly licensed and registered by the Securities and Exchange Commission as Trustees and Fund and Portfolio Managers. Union Trustees Limited, based in Lagos Nigeria, is well known as one of the top corporate Trustees’ and Fund Managers…

Atlas Mara in deal to buy Rwandan bank

Posted on by The Editorial Team

The EastAfrican: A firm linked to former Barclays executive Bob Diamond is expanding its footprint on the continent with the acquisition of a second Rwandan bank. The EastAfrican has learnt that the London Stock Exchange-listed Atlas Mara is at an advanced stages of finalising the acquisition of the majority stake in Banque Populaire du Rwanda (BPR), which effectively increases its presence in the country’s banking industry following last year’s purchase of some assets of Rwanda Development…

The Abraaj Group closes US$990 Sub-Saharan Africa fund

Posted on by The Editorial Team

Dubai, UAE, 13 April 2015: The Abraaj Group (“Abraaj” or “The Group”), an investor operating in global growth markets, today announced the final close of its third dedicated Sub-Saharan Africa private equity fund at US$ 990 million. Abraaj Africa Fund III (“AAF III” or the “Fund”) received support from a diverse range of global institutional investors, pension funds, sovereign wealth funds and development finance institutions. 64% of the capital committed to the Fund has come…

FMO exits Safripol investment

Posted on by The Editorial Team

Johannesburg, South Africa, April 8 2015: The Netherlands Development Finance Company (FMO) and Vantage Capital have exited their R220 million ($32 million) investment in Safripol, a Southern African plastic polymer manufacturer. Vantage is a Pan-African mezzanine fund manager with over R5 billion ($420 million) of assets under management. FMO is the Dutch development bank. In July 2007 Vantage and FMO funded Thebe Investment Corporation, one of South Africa’s most prominent black economic empowerment investment companies, to acquire…

National Bank of Canada Buys an Equity Stake in the African Financial Group NSIA

Posted on by The Editorial Team

National Bank of Canada (“National Bank”) today announced that it is purchasing a stake in NSIA Participations (“NSIA”), a financial group headquartered in Abidjan, Côte d’Ivoire, with operations in 12 countries across West and Central Africa. With this transaction, National Bank and Amethis Africa Finance (“Amethis Finance”) acquire the equity stake held by private equity fund ECP Africa Fund III PCC in NSIA. National Bank will have a 20.9% interest, while that of Amethis Finance…

Verod Capital fully exits HFP Engineering and partially exits GZ industries

Posted on by The Editorial Team

Verod Capital has fully exited ownership of HFP Engineering (“HFP”), a Nigerian company based in Lagos. Established in 1979, HFP is a major player in the property development and construction industry in Nigeria. The company developed several landmark projects in Nigeria, including Victoria Garden City, a residential estate with an estimated population of 30,000 inhabitants. In 2008, Verod Capital acquired a 33% stake in HFP, and contributed significantly to developing the business and expanding its…

Abraaj, Helios Said to Be Among Possible Bidders for Actis’ EMP

Posted on by The Editorial Team

(Bloomberg) — Private-equity firms Abraaj Group and Helios Investment Partners are among potential bidders for Actis’s payment services firm Emerging Markets Payments Group, two people with knowledge of the matter said. A formal bidding process for EMP, which may fetch about $400 million, could start as soon as this month, the people said, asking not to be identified as the information is private. The sale may also draw rivals that want to expand in emerging…

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