Enko Capital Managers achieves final close of its Pan-African PE Fund at US$83.25mn

22 Feb 2016

Enko Capital Managers is pleased to announce it has successfully reached a US$83.25 million final close of its Pan-African fund, the Enko Africa Private Equity Fund (EAPEF). Significant second close investors included Proparco, through its FISEA window, along with a collection of European investors managed by Massena Partners. These complemented EAPEF's original cornerstone investors, the African Development Bank and Soros Brothers Investments along with other various institutional, family office and high net worth investors.


EAPEF is focused on providing growth capital to late-stage private companies across a broad spectrum of economic sectors in Africa. In particular, EAPEF will focus on companies with the potential to list on local or regional stock exchanges convinced that Africa’s capital markets offer a potentially lucrative, yet underutilized exit route for private equity investors such as EAPEF.


Enko expects to complete eight transactions over the remaining investment period, building on its first investment in the financial services sector in Zambia. The Fund’s goal is to exit from these investments three to four years post-investment at the point of an initial public offering of the company on an appropriate stock exchange. In addition to Enko’s value add as a conventional private equity investor, its participation in the strategic management of portfolio companies is expected to result in improved corporate governance and transparency as well as stimulating the flow of private companies coming to the public markets.


Enko Capital Managers Ltd (ECM), EAPEF’s investment manager, is part of the Enko Capital group, which also currently manages the Enko Opportunity Growth Fund, a fund investing in African listed securities. ECM’s highly experienced private equity team members have long experience executing and managing private equity investments within and outside sub-Saharan Africa. Based in Johannesburg, the team is truly pan-African with members from both English- and French-speaking countries.


Commenting on the final closing of EAPEF, Cyrille Nkontchou, Managing Partner of ECM said: “We are delighted to welcome FISEA and Massena Partners as investors in EAPEF and believe that we now have a solid platform from which to build a portfolio of attractive private equity assets in Africa. We are particularly excited at the prospect of investing in the blue chip companies of tomorrow and helping them realise their ambition of achieving sustainable growth.”

For additional information, please contact:
Cyrille Nkontchou (cnkontchou@enkocapital.com), or
Ralph Gilchrist (ralph.gilchrist@enkocapital.com)

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