PE house Mediterrania reveals €250m target for third Africa fund

Albert Alsina, Mediterrania’s CEO and Managing Partner. Credit:

Spain-based buyout house Mediterrania Capital Partners plans to raise up to €250m capital for its third Africa vehicle.

The fund, Mediterrania Capital III, will focus on North African companies but will also expand to select Sub-Saharan countries like Ivory Coast, Senegal and Cameroon, the firm said.

A first close for the fund is scheduled for the end of the year, with full deployment of funds to be completed within three or four years after the final closing.

Mediterrania’s predecessor fund raised €120m on its final close in 2014, surpassing its initial target of €80m and its currently 80 per cent invested.

Read more: Mediterrania reveals €250m target for third Africa fund | AltAssets Private Equity News