Adenia Partners Closes USD 470 M African-Focused Fund

Adenia Partners Ltd., a private equity firm focused on African opportunities, has announced closing its fifth and largest Africa-focused fund to date, Adenia Africa Fund, for USD 470 M. The fund will invest in several industries across the continent, including fintech, telecom, and healthcare. The fund attracted investment from old and new investors, such as Norfund AS, the US International Development Finance Corp., and Canada’s Findev Inc.

The Adenia Fund also includes the Public Investment Corp. Ltd., an Africa-based fund manager that manages approximately USD 138 B (R2.6 trillion) in South African government-employee pension assets, as well as Ghanaian and Kenyan pension funds. Adenia has been active in Africa for more than two decades, having been founded in 2002. The company, headquartered in Mauritius, operates in seven African countries and boasts a team of 21 investment professionals.