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Fund News In Brief

Emerging markets buyout firm Actis is looking to invest around $300 million annually in Africa, Reuters reported. Actis aims for individual investments of $50 million which means it focuses on Africa’s biggest economies—South Africa, Egypt and Nigeria, where there are more opportunities for bigger deals, Reuters wrote.

Japanese buyout firm Advantage Partners has no immediate plans to launch a new fund despite the imminent expiration of the investment period for its existing 220 billion yen ($2.7 billion) fund, Reuters reported. The fund, due to mature in 2017, incurred a multibillion-dollar loss last year on an investment in Tokyo Star Bank, a Tokyo-based regional lender. A special vehicle set up by Advantage Partners bought the bank in 2008, Reuters wrote.

Apollo Global Management is planning for its next global buyout fund, LP and banking sources told peHub. Sources declined to specify a target for the fund. One source said Apollo is planning to go out next year but the fundraising could come sooner. Apollo closed its last big buyout fund in late 2008. That pool, Apollo Investment Fund VII LP, raised $14.7 billion.

DH Capital has unveiled a new fund in partnership with debt finance provider SaaS Capital. The fund will provide growth capital to emerging software-as-a-service businesses. It will also provide senior debt loan facilities to SaaS companies with more than $3 million in revenue.

WAMEX Private Equity announced that it closed its second growth equity fund at $160 million. Mexico City-based WAMEX said it is the first manager to raise institutional funding from Mexican pension funds via a publicly listed development capital certificate vehicle. WAMEX said it has invested 40 percent of Fund II in three Mexican companies: Hoteles CityExpress (budget hotels), HDS (health care IT) and Water Capital (sustainable solutions financing).