Private equity firm Development Partners International closes 2nd Africa fund at $725M, 45% above target

Development Partners International, the private equity house, has closed its second Africa fund at $725m, 45 per cent above target, reflecting growing investor appetite to tap the continent’s expanding consumer class.

Although Africa’s share of global private equity remains tiny, a decade of high growth and increasing record of returns is attracting more and new types of money. Investors said consumer-facing industries from private education and insurance to retail offer the chance of high returns.

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