(Ecofin Agency) - Africa-focused private equity funds have over the past year raised a record $3.89 billion according to data compiled by the private Equity International magazine. This represents a 51% boost from $2.57 billion raised in 2014.
Among those with the most significant results is Abraaj Group’s North Africa Fund II which by August 2015 had raised $375 million, $125 million more than $250 million it initially planned. Earlier in April, Abraaj proceeded to the closing of its funds for sub Saharan Africa, at $990 million, thus $800 million more than it initially planned.
Helios Investors III also exceeded by far its target ($900 million) reaching $1.1 billion.
According to Private Equity International, the record set by the Africa-focused private equity funds is mainly due to the numerous investment opportunities offered by the continent’s telecommunication, infrastructure, goods consumption, and financial services sectors.
