AfricInvest has held a final close of Maghreb Private Equity Fund IV at €194 million, after receiving a €20 million commitment from the African Development Bank. The fund, which closed just shy of its €200 million target, will take substantial minority stakes in small to medium enterprises in North Africa, with a specific focus on Algeria, Egypt, Morocco and Tunisia. MPEF IV has a diversified sector focus with targeted sectors including: TMT, healthcare, education, logistics, agribusiness, financial services and business services.
Maghreb Private Equity III was a smaller vehicle, closing at €156 million in March 2013. Many of the investors in MPEF III re-upped to Fund IV.