Rothschild-backed Amethis taps US, Europe raising $530m for African development fund


johannesburg-city-skyline-1445004-mAfrican investment firm Amethis has raised $530m for the final close of its African Entrepreneurs fund, making it one of the biggest vehicles of its kind.

Amethis said that the fund’s 55 investors include banks, insurance companies and fund of funds as well as successful private entrepreneurs from the manufacturing and services sectors.

CBR CEO Johnny El Hachem said, “We were convinced that Amethis was the right team for this partnership, with whom we share the same vision of long-term responsible investment in Africa.”

Amethis held a first close for African Entrepreneurs a year and a half ago and has already used it to make five investments. They include companies in Kenya, Ghana, Cote d’Ivoire and Mauritius in the banking, oil and gas retail distribution sectors.

Amethis said its particular focus is on supporting urbanisation and consumer growth in Africa’s bottleneck areas by taking minority stakes in deals.

The investment firm previously raised €134m for Amethis Finance Luxembourg and its subsidiary Amethis Africa Finance LTD in December 2012. Its shareholding structure is mostly private, split between shareholders of banks and financial institutions, corporates and family offices globally.

The firm was launched in partnership with Compagnie Benjamin de Rothschild Conseil (CBR), the Africa and private equity project finance arm of Edmond de Rothschild Group in 2011.

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