Africa: «Alterra Capital Partners, backed by Carlyle and Aliko Dangote, launches a $500 million fund for investment in Africa»
Alterra Capital Partners, a private equity firm, has launched a new fund dedicated to Africa with the aim of raising $500 million.
The fund has already raised $140 million in its first closing and is backed by US private equity giant Carlyle Group and Nigerian billionaire Aliko Dangote. Other notable investors include Standard Bank Group, the International Finance Corporation (IFC), Norfund AS, Deutsche Investitions- und Entwicklungsgesellschaft GmbH (DEG), and Allianz’s AfricaGrow fund.
The new fund plans to invest in a range of sectors in Africa, including telecommunications, technology, logistics, healthcare, consumer and retail. Carlyle co-founders David Rubenstein and Bill Conway are among the fund’s investors.
According to Genevieve Sangudi, Partner at Alterra Capital Partners, the time is right to invest in Africa because of the opportunities presented by the continent’s energy challenges and the rapid digital transformation driven by technology.
Alterra Capital Partners was formed in 2020 by former Carlyle Group team members in Africa and took over the management of Carlyle’s assets on the continent. Since its inception, the firm has successfully returned approximately $600 million to investors through exits from six portfolio companies.
Read also: Burkina Faso / Digital revolution under the presidency of Ibrahim Traoré: Regulation of social networks for quality information
Sonia Uche
