Managers

Most of the 10 largest funds raised last year were significantly larger than the previous fund in that family.

Last year firms raised $352bn for the asset class, an almost 26% drop on the previous year, according to preliminary PEI data.

There is an inverse correlation between capital deployed during the first year of a fund’s investment period and its eventual performance, according to research by eFront.

The Tunisia-headquartered firm will target around $500m for AfricInvest Fund IV, according to a source with knowledge of the fund.