--- Connecting LPs & GPs worldwide
--- Connecting LPs & GPs worldwide
Part of the proceeds from the $5.1bn sale of DeBeers will be used to boost the reserves of Tana Africa Capital, the private equity vehicle established by Singapore state investor Temasek and the Oppenheimer family.
According to Bloomberg, the South African mining dynasty has pledged to invest the majority of the capital in Africa, following an announcement today that it had sold its 40 per cent stake in the diamond mining giant to majority shareholder Anglo American.
Reports in August confirmed that Temasek unit Sennett Investments had partnered with the Oppenheimer family to establish Tana Africa, a $300m private equity fund. Both parties were rumoured to have contributed an equal amount to finance the vehicle.
The fund was established to invest in consumer goods and agricultural sector buy-outs, with a particular focus on targeting Africa’s young population and farm produce respectively. It will also focus on Africa’s media, education and healthcare sectors.
Temasek currently manages a portfolio of S$193bn focused primarily in Asia and Singapore, although recently there has been more focus on overseas investments. This week the firm joined a consortium of investors in the purchase of a five per cent stake in Chinese online marketplace Alibaba, a deal valued at $1.6bn.
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