Carlyle Group is looking for new investments opportunities in Africa after its first ever exit earlier this month. Marlon Chigwende, managing director and co-head of the Carlyle Sub-Saharan Africa Fund, said the $700 million investment vehicle was looking to increase its investments on the continent after it exited Export Trading Group, a Tanzanian-based continental supply chain manager.
To date the fund has invested approximately $300 million across a variety of industries and countries. They have made at least five buys and have entered in various partnerships, including with Africa’s richest man, Aliko Dangote. They are hoping to close another deal this year. The fund is mainly targeting Financial Services, Fast-Moving Consumer Goods, Agribusiness, Transportation & Logistics and Energy.
The funds average ticket size is around $70 million. The Carlyle-Saharan Africa Fund (CSSAF) is actually the largest private equity fund in Africa. For more information on the fund click here.