Fund: Actis Emerging Markets 3
Target: $2.5 billion
Amount Raised: $2.9 billion
Placement Agent: Helix Associates
More than one-third of the capital raised and half the limited partners came from North America, representing a cross section of public pension funds, endowments, family offices and financial institutions, Jonathan Bond, a partner, told Buyouts. The vehicle has 100 backers.
London-based Actis will mainly make control buyouts and growth capital investments but will also consider restructurings and privatizations. The firm plans to do 30 to 40 deals across Africa, China, India, Latin America and South East Asia, investing at least $50 million of equity capital in each transaction. Actis anticipates that China, India/South Asia and Africa will each receive 20 percent to 30 percent of the fund’s investments; Southeast Asia and Latin America will each get 10 percent to 15 percent.
Actis earned a 31 percent gross IRR and a 2.3x return multiple across both previous emerging markets funds, according to a March 2008 document from
Helix Associates served as placement agent.