The Tuninvest-Africinvest Group, a Tunisia-based private equity company that invests in small and medium-sized enterprises (SMEs), recently announced the closing of its Maghreb Private Equity Fund III (MPEF III) with approximately EUR 96 million (USD 134 million) in capital commitments. The 10-year fund has a target size of EUR 150 million (USD 210 million) and will invest in opportunities in Algeria, Morocco, Tunisia and Libya, with the possibility of also deploying funds in Egypt.
Investors in the fund include: the African Development Bank (AfDB), a Tunisia-based development finance institution (DFI); the Netherlands Development Finance Company (FMO in Dutch), a public-private partnership; the International Finance Corporation (IFC), the private-investment arm of the World Bank Group; CDC Enterprises, a French institutional investor; the German Investment Corporation (DEG in German), a member of Germany’s KfW Bank Group; the Investment and Promotion Company for Economic Cooperation (PROPARCO in French), a French DFI; the Swiss Investment Fund for Emerging Markets (SIFEM), a Swiss DFI; the Belgian Investment Company for Developing Countries (BIO), a public-private partnership between the Ministry for Development Cooperation and the Belgian Corporation for International Investment; and Averroes Finance II, a French fund of funds. The level of investment committed by each institution has not been released.
As of August 2011, Tuninvest-Africinvest manages 10 investment funds with approximately USD 550 million in assets under management.
By Rohan Trivedi, Research Associate
About the Tuninvest-Africinvest Group:
The Tuninvest-Africinvest Group is a private equity company that targets growth capital investments in small and medium-sized enterprises (SMEs) across North and Sub-Saharan Africa. Both Tuninvest-Africinvest and its parent institution, the Integra Partners financial services group, were established in Tunisia in 1994. As of August 2011, Tuninvest-Africinvest manages 10 investment funds with approximately USD 550 million in assets under management.
Sources and Additional Resources:
[1] BIO Press Release: “BIO participates in the closing of MPEF III”, http://www.bio-invest.be/en/news/29-bio-participates-in-the-closing-of-mpef-iii.html
MicroCapital.org story, May 12, 2009: “MICROCAPITAL STORY: European Development Finance Institutions Part 3: The Netherlands Development Finance Company (FMO) Invests Over USD 160 million in Microfinance in Last Two Years”, https://www.microcapital.org/microcapital-story-european-development-finance-institutions-part-3-the-netherlands-development-finance-company-fmo-invests-over-usd-160-million-in-microfinance-in-last-two-years/
MicroCapital Universe Profile: Tuninvest-Africinvest Group, https://www.microcapital.org/microfinanceuniverse/tiki-indx.php?page=Tuninvest-Africinvest+Group
MicroCapital Universe Profile: African Development Bank (AfDB), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=African+Development+Bank++%28AfDB%29
MicroCapital Universe Profile: Netherlands Development Finance Company (FMO), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Netherlands+Development+Finance+Company+%28FMO%29
MicroCapital Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
MicroCapital Universe Profile: Deutsche Investitions-und Entwicklungsgesellschaft GmbH (DEG), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Deutsche+Investitions-und+Entwicklungsgesellschaft+GmbH+%28DEG%29
MicroCapital Universe Profile: PROPARCO, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=PROPARCO
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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