Equator Capital Partners raises $62m

The Chicago-based fund management company continues to target developing and transitional economies.

ShoreCap III has held a first close at $62 million, having launched in June 2016 with a target of $150 million. Equatorial Capital Partners’ fund aims to promote financial inclusion in Sub-Saharan Africa through equity and quasi-equity investments in small and medium-sized enterprise banks, microfinance institutions, micro-insurance and financial technology.

The vehicle has so far received backing from the African Development Bank, CDC, the European Investment Bank, KfW and the Austrian Development Bank OeEB.

ShoreCap II previously achieved $80 million of commitments, with a final close held in 2012.