THE private equity or financial sponsor industry centred on sub-Saharan Africa (excluding SA) has had an unprecedented fund-raising boom in recent years, driven by attractive returns realised on investments in the region.But the role of the industry and its developed market investment approach may need to be re-examined and tailored to better suit current economic realities and investment opportunities.While once alluring sovereign growth prospects have diminished in the face of falling commodity prices and currency devaluations, capital continues to chase the few big deals meeting traditional investment criteria.Established funds with demonstrated track records in the region, such as The Abraaj Group, African Capital Alliance, Development Partners International, Helios Investment Partners and others, have raised billions of dollars in capital targeted towards growth investments in Africa.Global private equity juggernauts The Carlyle Group and General Atlantic Partners and sovereign...
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