North Africa

First microinsurance PE firm launched at Clinton-led event

LeapFrog Investments aims to provide 25 million low-income individuals in Asia and Africa with access to microinsurance in the next 10 years. The market for microinsurance on the two continents includes more than one billion people.

Connectiva Systems secures $17m

An NEA-IndoUS-led syndicate is backing Connectiva, a US-based company that 'leverages the strengths of India' to provide solutions to the telecom industry.

GroFin pan-Africa fund holds $125m first close

The $160m fund is targeting small to middle market enterprises to plug the financing gap between microfinance and commercial banks.

AIG invests in Nigerian microfinance platform

Amid uncertainty over how the government bailout of its parent company will affect its future, AIG Investments closed a deal yesterday with an undisclosed investment in Blue Intercontinental Micro Finance Bank.

EFG-Hermes invests $65m in hospitality company

The investment is part of the Egypt-based firm’s expansion across the Middle East and North Africa, following the hiring of three former Goldman execs in July.

AlpInvest looks to Africa

Already active in Latin America and Central and Eastern Europe, the Dutch limited partner is looking to take advantage of the investment opportunity in Africa, CEO Volker Doeksen said today in New York. The Netherlands-based investor pursues fund, secondary, co-investment and mezzanine opportunities.

Former NY Governor Pataki joins MidOcean

The middle market specialist has added the three-term Republican governor to its executive advisory board.

First Reserve seeds nuclear venture

In a bid to consolidate the industry at the start of a ‘nuclear fuel cycle’, the US energy industry specialist has recruited two veterans of nuclear power to form Accord Nuclear Resources, a platform from which to build an integrated nuclear fuel supplier.

Actis takes slice of Tunisian IPO

The emerging markets specialist has executed another African PIPE deal, this time taking part of Tunisia’s largest listed company.

Actis backs Malaysian aluminium company buyout

The emerging markets private equity firm has acquired Teknicast in what is its second management buyout in Malaysia's aluminium sector and third overall in the country.