ADENIA CAPITAL V

Promoter – Financial Intermediary

ADENIA PARTNERS LTD

Location

• Regional - Africa

Description

Equity participation in Adenia Capital V, a generalist, closed-ended private equity fund focusing on small and medium-sized enterprises (SMEs) in sub-Saharan Africa.

Additionality and Impact

The operation concerns an investment in Adenia Capital V, a USD 400m investment fund targeting companies in Africa.

This operation is in line with the European Commission's priority to promote Jobs and sustainable and inclusive growth. It is expected to contribute to EIB objective outside the EU for private sector development and job creation. In terms of jobs, the Fund is expected to not only support job creation, but also to improve employees' wellbeing, increase career developmental opportunities and boost job satisfaction.

The EIB commitment is expected to trigger the commitment from other investors and to have a strong catalytic effect. With EIB commitment, the Fund's terms are expected to be negotiated in line with best market practice standards.

Objectives

The fund aims to provide equity and quasi-equity support to private companies (SMEs and mid-market companies) active in Africa (with a focus on sub-Saharan Africa). The fund will support the achievement of the sustainable development goals (SDGs), in particular SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation and Infrastructure). The fund has a target size of approximately USD 400 million.

Comments

N/A

Sector(s)

• Services - Financial and insurance activities

Proposed EIB finance (Approximate amount)

USD 51 million (EUR 51 million)

Total cost (Approximate amount)

USD 400 million (EUR 399 million)

Environmental aspects

The fund's operational guidelines will provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.

Procurement

The fund is expected to comply with EIB's procurement guidelines.

Status

Signed - 17/02/2023