** For the best experience, download the free Africa Private Equity News app Android | iOS **
Ninety One has announced the final close of its Africa Credit Opportunities Fund 3 (ACO3 Fund). The ACO3 Fund closed with $404 million (including leverage) in commitments from institutional investors including development finance institutions, pension funds, and family offices across Africa, Europe, the UK, the US and Canada.
The ACO3 Fund invests mainly in senior secured private credit opportunities. It provides flexible financing to businesses and critical infrastructure projects across Africa and other emerging markets.
The ACO3 Fund has already built a diversified portfolio of over 30 investments in Africa, Latin America, Asia and Central and Eastern Europe, with exposure to communications, consumer, financials, healthcare, industrials, and materials. Several exits have been realised.
Nathaniel Micklem, co-head of emerging market alternative credit at Ninety One, said: “The successful close of Africa Credit Opportunities Fund 3 reflects investors’ continued confidence in the attractive opportunities available in Africa and emerging markets private credit. We continue to see a significant financing gap for high-quality businesses and infrastructure projects across Africa and other emerging markets. This creates attractive opportunities for experienced lenders with deep local origination capabilities. Our long-standing presence, local expertise and partnerships position us to identify resilient investment opportunities that we believe can deliver compelling risk-adjusted returns while supporting sustainable economic growth.”
The ACO3 Fund is led by managing directors Steven Loubser and Kobina Sam.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Access the latest Dealmaker’s Log here
