Preqin data shows there are currently 114 private equity firms operating from the Africa. The latest data from the Fund Manager Profiles database shows that collectively, these firms have raised nearly USD 15.5 billion in private equity capital over the last 10 years, and have over USD 4.7 billion available in dry powder.
Preqin’s extensive research reveals the most populated location in Africa in terms of fund managers is South Africa. 62 fund managers are based in the country and have raised USD 7.4 billion over the last 10 years and sitting on over USD 2.2 billion in unspent capital. This is followed by Egypt where collectively 12 fund managers have garnered USD 3.9 billion in commitments over the last decade, with USD 840 million in available dry powder. Mauritius is the third most populated region, firms based on the island have raised USD 2.7 billion in the last 10 years and have over USD 1 billion in dry powder.
The top five fund managers located in Africa, ranked by the aggregate capital raised over the last 10 years, are Citadel Capital, ChrysCapital, Pamodzi Investment, EFG-Hermes Private Equity and Brait Private Equity.
Citadel Capital is a private equity firm based in Cairo. The buyout firm makes control private equity investments in the Middle East and Africa. The firm has completed a wide range of transactions including distressed investments, industry roll-ups, growth capital investments, and leveraged investments. It has raised USD 1.9 billion over the past 10 years and currently has USD 377 million in dry powder. Citadel is currently raising African Joint Investment fund that invests exclusively in Africa. The fund held a first close of USD 80 million in July 2010 and is targeting USD 250 million overall.
ChrysCapital is based in Mauritius and participates in growth investments, special situations, recapitalization and management buyouts. It focuses on investing in outsourcing, business and financial, healthcare, software and information service and service related companies. The firm have raised USD 1.9 billion over the past 10 years and currently has an estimated USD 504 million in available dry powder.
Pamodzi Investment is a South African based private equity firm focusing on natural resources investments. Pamodzi, was awarded the Black Management Forum Progressive Company of 2007 and was founded by black South African professionals and entrepreneurs. It has raised USD 1.3 billion in aggregate capital over the last decade and currently has USD 461 million in dry powder. Its latest vehicle is the Pamodzi Resources Fund which closed in August 2007 on USD 1.3 billion. It has raised USD 1.3 billion in aggregate capital over the last decade through the management of Pamodzi Resources Fund which closed in August 2007. Pamodzi Investment currently has an estimated USD 461 million available in dry powder.