News Column

Africinvest Fund III LLC

May 10, 2014



Project Status : Active Project number : 34234 Region : Sub-Saharan Africa Company name : ACP Mgmt II Country : Africa Region Sector P-BB - Private Equity/Venture Cap Fund - Regional Department : Reg Ind, Financial Markets, CAF/CLA Environmental category : FI2 Status : Pend FAP Date SPI disclosed : May 7, 2014 Projected board date : June 12, 2014 Last Updated Date : May 7, 2014 Project Description : The project entails an IFC equity investment of EUR 18.0 million (approximately $24.8 million), not to exceed 20% of total commitments, in Africinvest Fund III ( Africinvest III or the Fund ), a 10 year closed-end fund seeking to raise EUR200 million in commitments. The Fund strategy will be to take advantage of the economic growth and integration taking place in Africa that creates ideal conditions for private equity investment. Project Sponsor and Major Shareholders of Project Company : The Manager of the Fund is an affiliate of Tuninvest Finance Group and Africinvest Capital Partners ( The Group ). It will be a Mauritius limited-life company. The Group has approximately EUR 550 million of private equity funds under management in Africa including Africinvest II, a 2008 vintage fund with total commitments of EUR 143 million, to which IFC committed EUR 20 million. The Manager will benefit from the wide network and infrastructure of the group (offices in Tunis, Algiers, Casablanca, Abidjan, Nairobi and Lagos) and a team of 43 investment professionals, including 17 partners. Total Project Cost and Amount and Nature of IFC%s Investment : The proposed project is for an equity investment of EUR 18.0 million (approximately $24.8 million), not to exceed 20% of committed capital at any closing. The Fund is targeting total commitments of EUR 200 million and expects a first close in May 2014. Location of Project and Description of Site : The Fund is established as a Mauritian limited liability company. The Project team is based in Tunis, Tunisia; Abidjan, Cote d Ivoire; Lagos, Nigeria; and, Nairobi, Kenya. The Fund will be Pan-African, with investments spanning Sub-Saharan Africa. Expected Development Impact The Fund is expected to have significant development impact on its investees by: - providing them with risk capital and strategic advice in their growth and expansion plans; - implementing best practice Environmental, Social and Governance standards at both the Fund and investee company level. IFC%s Expected Role and Additionality - Catalytic role in attracting additional investors for the Fund to reach its target size. - Improved Governance & Terms to bring them in line with international best practice. - Provide additional financing to investee companies through IFC debt and equity co-investments. - Assist the Manager to develop an appropriate Environmental and Social Management System and ensure it had qualified staff to manage and implement the system, Environmental & Social Categorization Rationale The

Project completion date : 2015-05-31 12:00:00

Major organization : ACP MGMT II

Address : Immeuble Integra, Centre Urbain Nord, 1082 Tunis, Tunisia Web: http://www.africinvest.com Attn : Hakim Khelifa Senior Partner AfricInvest Capital Partners - Tunis Office



Country :Tunisia

Email : hakim.khelifa@africinvest.com

Financier : International Finance Corporation (IFC),

Financier address : Financier : International Finance Corporation (IFC) 2121 Pennsylvania Avenue, NW Washington, DC 20433 United States Website : http://www1.ifc.org Tel : (202) 473-3800 Fax : (202) 974-4384


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Source: TendersInfo (India)