The proposed project is for IFC to commit up to US$20 million, not to exceed 20 percent of total commitments, to African Development Partners III L.P. (the “Fund”), a 10-year closed-end fund targeting commitments of US$800m. The Fund has a pan-African generalist strategy and will make growth equity investments in established and growing companies with an emphasis on those benefitting from Africa’s growing middle class. The IFC Global Emerging Markets (“GEM”) Fund, managed by IFC Asset Management Company (“AMC”) is considering committing up to US$50 million to the Fund alongside IFC, not to exceed 20% of total commitments.
Development Partners International (DPI) was established in 2007 and currently has US$1.1 billion of assets under management and has raised two pan-African private equity funds; inaugural fund African Development Partners I (“ADP I”) and African Development Partners II (“ADP II”).
No contact information provided at the time of disclosure
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