Kuramo’s, Wale Adeosun feted LP Person of the Year, Africa

•Award, which is based on GP recommendations is given to individuals driving investments into the Africa Continent

• Kuramo Capital Management recognized for their investment in 2X Ignite Africa, TransCentury PLC and Moremi accelerator Program London, United Kingdom,

November 20, 2024 – Adewale Adeosun has been named this year’s Limited Partner Person of the Year, Africa at the Private Equity Africa awards held in London, United Kingdom. Mr. Adeosun is the Founder and CEO of Kuramo Capital Management, an investment management firm driving catalytic private institutional capital to fast-growing African businesses to generate attractive returns and positively impact local communities.

While receiving the award in London, which is based on GP recommendations, Mr. Adeosun expressed his delight terming the award as a testament to Kuramo’s commitment to investing in the continent.

“I am honored and humbled to have received the LP Person of the year award. It is a testament of all the work we at Kuramo have been doing for the last over 10 years. It is a testament to the team at Kuramo Capital. We have helped catalyze over USD 3.5Billion for the continent and have transformed the private equity ecosystem by supporting first time fund managers and that is the recognition we have received today,” said Mr. Adeosun.

Mr. Adeosun has been instrumental in the growth of Kuramo’s investment portfolio since inception. Kuramo has direct and indirect investments in 200 companies in 30 sub-Saharan African countries including Kenya and Nigeria in various sectors including Fast-Moving Consumer Goods, Infrastructure-Power, Agribusiness, Technology, and Financial Services. During the Private Equity Awards, Kuramo Capital Management received a special recognition award, Fund of funds Investor Award, for their investment in 2X Ignite Africa Investment Facility for Warehousing Capital; TransCentury Plc, an investment Holding Company, headquartered in Kenya, with a focus on infrastructure (energy, transport, water and agriculture); and Moremi accelerator Program, an initiative to empower the next generation of African women enterprises
and promote gender-equitable fund management.

As the pioneering fund-of-funds for sub-Saharan Africa, Kuramo Capital has had a tremendous impact in leading catalytic capital into the sub-Saharan Africa private equity ecosystem.

“We started off as a Sub-Sahara private equity shop. We are now Pan African, and we do have a goal to continue investing in other countries that are growing really fast and we are finding great opportunities. We are looking at Southern African countries, North African countries and Central Africa. This is in addition to the work we have been doing in the DR Congo where we invested in Plantations et Huileries du Congo (PHC), turning it around by empowering Congolese to run the
business,” added Mr. Adeosun

Since 2017, Kuramo Capital Management has invested over $50million in Plantations et Huileries du Congo, the leading industrial palm oil producer in the Democratic Republic of Congo, while ncatalyzing nearly $200 million investments from other partners, including development finance institutions.

PHC’s Director General, Ms. Monique Gieskes lauded Mr. Adeosun following the receipt of the award, calling on the spirit of Pan Africanism in the growth of investments not only in DRC but Africa as a whole.

“We are deeply honored to see Mr. Wale Adeosun and Kuramo Capital Management recognized for their strategic commitment to Africa’s economy. Kuramo’s trust and confidence allow us to work in harmony with the local context and fully contribute to the prosperity of the DRC. When Africans come together, as Kuramo has done through investments that empower local initiatives in the DRC and beyond, we collectively build a strong foundation for the continent’s growth and
a prosperous future “, said Ms Gieskes.

According to Kuramo CEO, Kuramo will continue finding businesses such as PHC across the continent. “We believe the growth opportunities in the continent are immense and it’s our job to find them and support the businesses.”

The Private Equity Africa (PEA) Awards celebrate excellence in private equity and venture capital investments across Africa. It aims to recognize outstanding firms, deals, and individuals that contribute to the growth and development of the African economy through impactful investments.

“The people that have invested in private equity are in the room. These are the people that have put billions of dollars into the continent yet have done it quietly. They have built roads, they have built infrastructure, they have built consumer companies. They invest in schools, they invest in hospitals and without these investors, Africa would not be where it is today,” said Gail Mwamba, Managing Editor, Private Equity Africa.

The awards are evaluated based on performance and success of investments; innovation and strategic approach; economic and social impact; Leadership and governance and return on investment.

“For Wale’s personal award, it is the people in the industry that have voted for him to say that he is a cornerstone to the industry and an anchor to Africa,” added Ms. Mwamba.

Mr. Adeosun serves on the Boards of several portfolio companies, and he was the Chairman of the Investment Advisory Committee of the $280 billion New York State Common Retirement Fund. In 2014, he was appointed to serve on President Obama’s Advisory Council on Doing Business Africa.

Prior to founding Kuramo Capital, Wale Adeosun was Treasurer and Chief Investment Officer at Rensselaer Polytechnic Institute (RPI), where he managed $1 billion in endowment and pension assets. Prior to RPI, he was a Managing Director in the Investments Group of the MacArthur Foundation in Chicago with oversight of $2 billion in U.S. equities and hedge fund investments.

He also currently serves as the Chairman of the Nigeria Higher Education Foundation (NHEF), a foundation based in New York City created by the MacArthur Foundation in 2004 to assist Nigerian Universities in preparing the next generation of global leaders.

About Kuramo Capital Management, LLC

Kuramo Capital Management is an independent investment management firm founded in 2010, championing private commercial capital into Africa. We provide targeted global investment management services to institutional clients and ultra-high net worth individuals, focused on alternative assets in emerging and frontier markets.

In almost 15 years, Kuramo has redefined the landscape of private equity in Africa, with nearly $500 million under management. Kuramo has helped catalyze nearly $3.5 billion to African private equity firms and businesses. We are the leading conduit for private institutional capital into Africa.