• Thursday, May 23, 2024
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South African Ethos raises $800m fund


South African private equity firm Ethos has raised $800 million for their Fund VI, exceeding their initial $750 million target.

The firm noted that for the first time, they were able to attract investors from Asia, reflecting growing interest in opportunities for private equity, especially in Africa.

Reuters reports that ‘Ethos had managed to attract a wider spread of investors than in previous rounds of fundraising, drawing Asian pension and sovereign wealth funds for the first time, as well as investors from Europe, North America, the Middle East and Africa.’

The fund will be invested in South Africa where the firm mainly targets companies with a value of $100-$450 milllion, and in selected sub-Saharan African countries.

Fund VI has already made two investments, in a construction and scaffolding company and a gift branding company respectively.

With the $800m, Ethos are hot on the heels of Helios who have raised the so far largest PE fund for sub-Saharan Africa with $900 million.