TPG will be working with Mo Ibrahim’s $500 million private equity outfit, Satya Capital.
TPG is the latest in a string of large US private equity firms that have recently started making moves into Africa.
Also, in August 2014, it was announced that Africa’s richest man, Aliko Dangote, would be partnering with both Carlyle and Blackstone to invest in Africa.
Private equity entrants into Africa are attracted by Africa’s high growth rates, well above global averages and forecasted at 4.5% for 2015.
Private equity deals in Africa reached a seven-year high in 2014, at $8.1 billion.