US private equity fund ECP raises $640m for Africa

Pan-African private equity investor Emerging Capital Partners has announced the final close of its fourth Pan-African fund, ECP Africa Fund IV (AFIV).

AFIV and its related co-investments received commitments of over $640 million, attracting a range of investors based in Africa, Europe, and North America.

Limited partners include public and private pension funds, sovereign wealth funds, funds of funds, as well as private sector investors. Development finance institution investors include France's Proparco, a subsidiary of Agence Française de Développement), Germany's Deutsche Investitions-und Entwicklungsgesellschaft (DEG), the African Development Bank, and US-based Overseas Private Investment Corporation (OPIC).