Debevoise & Plimpton LLP advised AfricInvest, a leading investment platform active in several alternative asset classes, including private equity, venture capital, private credit and listed equities, on the final closing of AfricInvest Fund IV, LLC (the “Fund”, “AfricInvest IV”, or “AF IV”), with total commitments of $411 million.
Launched two years ago with a cap of $400 million, AfricInvest IV has received investments from new and old institutional investors, development finance institutions and family offices around the world.
The fund is the largest in AfricInvest’s history and follows the previous flagship fund, AfricInvest III, which closed in 2016, reaching a fund size of €272 million ($300 million).
Like its predecessors, AF IV aims to invest in mature and profitable African mid-cap companies across various sectors to accelerate their regional growth and generate attractive risk-adjusted returns. The Fund also supports inclusive and sustainable development, having committed to meeting the 2X Challenge criteria for women’s economic empowerment.
For more details, check out the official version here.
The Debevoise team advising AfricInvest was led by partner Matthew Dickman and included partners Fatema Al-Arayedh and Andrew Seow. Tax advice was provided by international advisor Patrick Fasoro, partners Charles Cartiglia and Veronika Polakova. Regulatory advice was provided by Partner Patricia Volhard and International Advisor Jin-Hyuk Jang.