Angola sovereign wealth fund FSDEA says half of investments in private equity

Jose Filomeno de Sousa dos Santos, Chairman of FSDEA

Angola’s sovereign wealth fund said it put more than half of its investments in private equity funds focused in the country and across sub-Saharan Africa last year, describing its performance as “solid,” particularly in light of the global economic turbulence.

The fund, known as FSDEA, had assets worth $4.7 billion in 2015 after being endowed with $5 billion from the government in 2014, according to an investment update released on Thursday. About 58 percent of its portfolio was in private equity funds for infrastructure, real estate, timber, mining, health care and mezzanine capital.

The fund said its planned $3 billion allocation to private equity funds will be fully invested by 2020, according to the statement.

Read more: Angola Wealth Fund Says Half of Investments in Private Equity – Bloomberg