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Bailey McCann, Opalesque New York: African private equity firm Adenia Partners has closed its latest fund on $470 million. The fund was oversubscribed and hit its hard cap.
"Amid the impressive oversubscription of this new fund, it is incredible to look back on Adenia's journey over the last two decades, which started with the €10 million raised for our first fund back in 2003," said Alexis Caude, Managing Partner at Adenia Partners. "Through that time, our approach has remained constant, and we've continued to grow our presence to identify and build market leaders, creating lasting value across Africa."
Fund V continues Adenia's long-term investment strategy of making control investments in medium-sized companies across Africa with proven business models that demonstrate ample room for operational and ESG improvements. The fund is sector-agnostic with financial services, agribusiness, renewable energy, consumer goods, telecommunications, healthcare and education, business services, light manufacturing, and specialty distribution as areas of particular focus.
As Adenia's first completely pan-African fund, Fund V will leverage the firm's extensive on-the-ground presence with seven offices on the continent. Fund V is also the firm's largest fund to date.
Known investors in the fund include the US International Development Finance Corporation (DFC), Findev Canada, and Norfund.
Adenia has already completed two investments and announced a third f...................... To view our full article Click here
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