AFRICA – SPE Capital Partners, an independent Private Equity firm focused on Africa and the Middle East, has announced the final close of SPE AIF I, an Africa-focused private equity fund. SPE AIF I was oversubscribed and closed at US$258 million, well above its initial hard cap of US$200 million.
SPE AIF I was launched in 2019 to invest in companies across Africa, with a particular focus on North Africa. The fund strategy includes majority transactions in companies with growth potential, operating in sectors such as industrial goods, services, healthcare and education.
“This is a significant milestone for our young firm. We are grateful for the strong vote of confidence from our investors, whose unwavering support has been invaluable. The challenging environment we’re currently in underlines the importance of investing in resilient sectors and high-quality companies,” Nabil Triki, Managing Partner and CEO at SPE Capital said.
To-date, SPE AIF I has invested in 4 companies: Future Pharmaceutical Industries, a rapidly growing branded generics manufacturer in Egypt; Holged Tunisie, the leading private K-12 school operator in Tunisia; Dislog Group, a premier FMCG producer and distributor in Morocco; and Amanys Pharma (formerly Saham Pharma), a leading antibiotics manufacturer and injectables distributer in Morocco.
SPE AIF I mainly focuses on Egypt, Morocco and Tunisia, where access to equity is especially constrained because of the macro-economic and political challenges.
In April last year, IFC, a member of the World Bank Group, invested up to US$20 million into SPE AIF I and in June, the US International Development Finance Corporation (DFC) approved an up to US$25 million investment in SPE AIF I LP.
SPE AIF I LP will focus on businesses expanding access to healthcare and education, strengthening supply chains, and streamlining logistics.
SPE Capital, founded in 2016, is SPE Capital is led by an experienced on-the-ground investment team, with strong local knowledge and a proven track record of investing in growth companies.
With offices spanning across the region, SPE Capital has a thorough understanding of businesses in the region and strives to apply best international practices and governance standards.
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