Aureos Capital, one of the most experienced private equity groups in Africa, is aiming to raise $400m for a ground-breaking bet on the potential of smaller companies to build businesses spanning the continent, writes Barney Jopson in London.
The group, domiciled in Mauritius, is among a handful of emerging market specialists active in Africa and already runs three funds, dedicated to east, west and southern Africa, which total $140m.
The new pan-African fund is a significant strategic gamble because Aureos is betting on companies' ability to overcome regulatory and physical barriers that have long impeded trade among African countries. It plans to begin marketing the fund in the final quarter of this year and wants to secure commitments by the end of next year.
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