Release date: 7 August 2017
Promoter – Financial Intermediary
Ethos Mezzanine PartnersLocation
Description
The proposed operation consists of an equity participation in Ethos Mezzanine Partners 3, a generalist closed-ended mezzanine fund targeting mainly investments in small and medium-sized enterprises (SMEs) located in Southern and Eastern Africa. The target fund size is USD 150 million.
Objectives
The fund will build on the successful strategy followed for the predecessor funds, Mezzanine Partners 1 and Mezzanine Partners 2, by providing mezzanine finance to mid-market companies. It will focus on growth enterprises with strong cash flows which, due to their relatively small size, are unable to finance their growth through bank funding, the bond market or an Initial Public Offering (IPO). These companies are typically family-owned and not willing to accept private equity funding because of the level of equity dilution that this option entails.
Sector(s)
- Services - Financial and insurance activities
Proposed EIB finance (Approximate amount)
USD 20 million (EUR 17 million)
Total cost (Approximate amount)
USD 150 million (EUR 127 million)
Environmental aspects
The fund will operate in line with EIB's environmental and social standards.
Procurement
N/A
Status
Signed - 16/05/2018
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).