Africa has been one of the fundraising success stories of 2015 with capital raised outstripping previous records.
By the end of August, $3.78 billion had already been gathered from seven funds, almost a third more than the $2.57 billion accumulated during the whole of 2014 (see chart above).
Investors seemed encouraged by political stability in the region, notably after the largely peaceful Nigerian elections, and the continent's growing middle class. Private Equity International covered the issue in depth in a special supplement in September.
The trend slowed towards the end of the year (see chart below) with $3.89 billion being raised from nine funds.
Among those to close in 2015 was the Abraaj Group’s North Africa Fund II, which raised $375 million by August, $125 million above its target – its Africa Fund III had previously reached a final close at $990 million in March, having targeted $800 million. These were both topped by Helios Investors III, which reached a hard-cap of $1.1 billion, having targeted $900 million.