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    Reference: 20190211
    Release date: 8 August 2019

    Promoter – Financial Intermediary

    SPECIAL PURPOSE ENTITY(IES)/FUND

    Location

    Description

    The project concerns an equity participation in to African Development Partners III, a pan-African, generalist, closed-ended private equity fund advised by Development Partners International.

    Objectives

    The investment strategy follows the one that has been implemented for two predecessor funds. The fund aims to build a diversified pan-African portfolio of private equity investments in growing and profitable companies with emphasis on those benefiting from Africa's growing middle class. It will seek to take control positions, either through majority stakes or through minority positions with strong minority rights built into contractual agreements. African Development Partners III will seek to ensure management and shareholder alignment of interests through active board participation.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    USD 50 million (EUR 46 million)

    Total cost (Approximate amount)

    USD 800 million (EUR 727 million)

    Environmental aspects

    The fund will operate in line with the EIB's environmental and social standards.

    Procurement

    N/A

    Status

    Signed - 29/11/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Services