North Africa

IFC commits $25m to Citadel Capital

The investment in the MENA-focused private equity firm’s debut institutional fund will be used to help companies in the region develop beyond their local markets.

Capital Trust raises $100m for MENA fund

The alternative investment firm will close its third MENA-focused private equity fund 'in two weeks'. The fund will invest in Algeria, Egypt, Jordan, Lebanon, Morocco, Palestine, Syria and Tunisia.

GIH appoints head of private equity in Egypt

Mohamed Abdelsalam will drive deal sourcing and portfolio management in Egypt. The appointment forms part of the firm’s strategy to expand in the North African region.

Global exits Indian refinery

The Kuwaiti-headquartered firm has sold its interest in Reliance Petroleum, generating an IRR of more than 70%.

Private equity-backed Cobalt signs Angolan JV

Cobalt, which is backed by Riverstone, Goldman Sachs and First Reserve, has tied up with Sonangol, the national oil company of Angola, to let the oil and gas exploration firm access Africa's third largest oil producing nation.

Lehman spin-out has $1.7bn in dry powder

Renamed Trilantic Capital and still led by Charlie Ayres, the firm will be ‘patient’ in choosing investment opportunities. In an interview with PEO, Ayres said his firm will look for chances to inject quality, over-levered companies with equity capital for some form of control.

CDC may launch African debt funds

The UK government's development-focused fund of funds is talking to two Southern African banks about the creation of debt funds to help private businesses in the region, says chief executive Richard Laing.

Ex-Lehman unit rebrands as Trilantic Capital

The management spin-out of Lehman’s merchant banking arm officially closed last week and the firm has chosen a new name.

Aureos enters North Africa

The emerging markets specialist has hired Isabelle Portebois-Benjelloun, the former private equity chief at Moroccan investment bank CFG Group, to establish a North African presence from a base in Casablanca.

Study: Emerging markets hold their appeal

Institutional investors remain committed to emerging markets private equity and convinced it can offer higher returns than more developed markets. However, their perception of the risk involved has incresed since 2008.