PROJECT

Projects

Summary of Investment Information

Project Number

33017

Company Name

INVESTEC AFRICA PRIVATE EQUITY FUND 2 LP

Date SPI Disclosed

Dec 4, 2013

Country

Africa Region

Region

Africa

Projected Board Date

Jan 13, 2014

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 21, 2022

Department

Equity Portfolio Management

Industry

Infrastructure

Previous Events

Approved : Mar 5, 2014
Signed : Apr 25, 2014
Invested : Mar 27, 2015

Sector

Private Equity/Venture Cap Fund - Regional

Project Description

The proposed investment involves an equity investment by IFC of up to US$30 million in the Investec Africa Private Equity Fund 2 (“Investec II” or the “Fund”), a 10 year closed-end mid-cap growth fund seeking to raise up to $350 million in third party commitments. Investec II is a generalist fund that aims to make equity and equity-related investments in African companies. It is a successor fund to the Investec Africa Frontier Private Equity Fund (“Fund I”), a 2008 vintage fund with total commitments of US$155 million that is largely committed and with a performing portfolio.

The Fund’s investment strategy is mid-market targeting deal sizes of US$15-40 million, with investment in a single portfolio company capped at 20%. The Fund is Pan-African, with a strategy that focuses on investing in established businesses where the Fund can invest new capital to help them expand regionally through organic or inorganic means. This is the same strategy that the Manager has successfully used in the Fund I.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation