AVCA Limited Partner Survey
This is the second year that AVCA has undertaken a survey of Limited Partners’ (LPs’) perspectives on private equity (PE) in Africa. This edition of the Limited Partner Survey provides insights into the views, plans and expectations of 68 LPs from across the globe.
Read the public report
AVCA Limited Partner SurveyKey findings:
- 50% of LPs plan to increase their allocation to PE in Africa over the next three years
- 50%of LPs view Africa as more attractive for PE investment than other emerging and frontier markets
- 76% of LPs view Consumer Goods as the most attractive sector for investment over the next two years
- 70% of LPs identify West Africa as the most attractive region for PE investment over the next two years
- 73% of LPs cite a GP’s track record of investment as the most significant factor in evaluating African PE firms
- 86% of LPs prefer African GPs to have offices on the continent
- 70% of LPs look to co-invest alongside African GPs
- 58% of LPs cite a lack of established African GPs as a potential barrier to LP investment
- 51% of LPs say that the performance of their African PE portfolio matched or exceeded their expectations
- 52% of LPs expect African PE returns to exceed returns in other emerging markets
- 52% of LPs predict Africa PE returns over the next five years will exceed 2.5x
