Arab Today, arab today carlyle launches subsaharan africa fund
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

Carlyle launches sub-Saharan Africa fund

Arab Today, arab today

Arab Today, arab today Carlyle launches sub-Saharan Africa fund

Paris - AFP

Carlyle this week became one of the first major private equity players to launch a dedicated sub-Saharan Africa fund, underscoring the growing investor interest in the continent's growing middle class. The US-listed alternative investment manager has raised $698 million (505 million euros) -- almost $200 million above its initial target -- from both African and international investors wanting to profit from the region's expanding pool of consumers with extra cash to spend. Marlon Chigwende, co-head of the firm's sub-Saharan Africa buyout advisory team, said the fund would focus on investments in the consumer, logistics, financial services and telecommunications sectors. So far it has made two investments: the Export Trading Group, a supply chain manager headquartered in Tanzania and J&J Africa, a logistics business based in Mozambique. "The success of the fundraising reflects investors' appetite for the strong economic growth that the region has experienced over the last decade, as well as the prospects for future economic development across the continent," Chigwende said in a statement. Sub-Saharan Africa attracts a tiny proportion of the world's private equity cash -- only a quarter of the amount invested in India alone, on a basis adjusted for gross domestic product -- but that is beginning to change. The number of private equity deals in the region tripled last year compared to the level in 2012, according to a survey by Deloitte and Africa Assets published last month, driven by a growing number of higher-value deals in the energy sector.   "Confidence for PE in Africa is certainly increasing. Track records are deepening, growth is strong, risks are manageable and (firms) continue to rate the region highly amongst their emerging market options," said the report - Growing middle class - Other investors, like Carlyle, are being drawn by the potential of the region's rapidly-growing middle class. The African Development Bank, one of the fund's cornerstone investors, estimates that about a third of the region's 1.0 billion people are now middle class consumers, which they define as someone who earns at least $4 a day and has some money to spend beyond the bare necessities. The bank says that by 2060 that could have grown to more than 42 percent of the population, at more than a billion people. "The region has been the fastest growing developing market in the world outside of China," said David Rubenstein, co-founder of Carlyle, which manages assets worldwide worth about $189 billion. However, tapping into that growth is not without risks. Earlier this month the International Monetary Fund cut its sub-Saharan Africa 2014 growth forecast by 0.7 of a percentage point to 5.4 percent, citing concerns about domestic strife and shaky demand for natural resources. "External risks are particularly important for natural resource exporters, which could suffer from a slowdown in emerging markets and a shifting pattern in China from investment- to consumption-led growth," the Washington-based fund warned.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today carlyle launches subsaharan africa fund Arab Today, arab today carlyle launches subsaharan africa fund

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today carlyle launches subsaharan africa fund Arab Today, arab today carlyle launches subsaharan africa fund

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday