Posted by: DEAL STREET ASIA

 

A packet of former U.S. President Abraham Lincoln five-dollar bill currency is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron/File Photo

The International Finance Corporation (IFC) has proposed to invest $18 million each in Maghreb Private Equity Fund IV and Mediterrania Capital Partners III that will invest in markets across North and West Africa.

IFC proposes to invest $18m in Maghreb PE The International Finance Corporation (IFC) has proposed to make an equity investment of up to $18 million (EUR 15 million ), not exceeding 20 per cent of total fund commitments, in Maghreb Private Equity Fund IV LLC (MPEF IV), it said in a disclosure. MPEF IV is a closed-end private equity fund organized as a Mauritius limited liability company with a target size of EUR 200 million.

The fund will have a generalist sector strategy and will invest in small and mid-market growth capital transactions primarily in Tunis, Morocco, Algeria and Egypt, the disclosure said. The fund will be managed by Emerging North Africa LTD (“AfricInvest” or “Fund Manager”), a Mauritius limited liability company, focused on investing in North Africa.

The fund principals are the key shareholders of the fund manager and the general partner.  IFC to inject $18m in Mediterrania Capital IFC, the private investment arm of the World Bank, has also proposed to invest up to $18 million in Mediterrania Capital Partners III (MC III), not exceeding 20 per cent of total fund commitments, it said in another disclosure.  The fund is targeting EUE 250 million in commitments, and will invest in mid-market companies in North and West Africa.

The fund is expected to make 8 to 12 investments with ticket sizes ranging between EUR 10 and EUR 30 million, it said. MCP is an independent fund manager based in Malta with approximately EUR 189 million in assets under management as of March 31st, 2017.

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