Sterling Capital acquires 20pc stake in Kenyan PE firm Afvest

KENYA – Sterling Capital Limited, a Kenyan based investment bank, has reached a deal to acquire a 20 percent stake in emerging markets private equity (PE) firm, Afvest, for an undisclosed value. The investment bank said in a statement that the deal with Afvest was in line with a strategy to position itself “alongside a growing number of private equity funds”, which invest in scalable early-stage businesses with potential to generate high returns. According to a Business Daily report, Sterling, backed by New York-based equity fund Kuramo Capital, said there…

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