Kingdom Zephyr Picks Up US$492 Million for Pan-African PE Fund

According to the Emerging Markets Private Equity Association (EMPEA), Kingdom Zephyr Africa Management, a pan-African private equity firm, has completed the final closing of its second fund with total commitments of US$492 million. The Pan African Investment Partners II Fund has already completed three investments: approximately US$20 million in both South Africa-based power infrastructure and heavy building materials company Buildworks Group and Thunnus Overseas Group, a producer and distributor of canned tuna with operations in Cote d’Ivoire and Madagascar, as well as approximately US$48 million in Mixta Africa, a real estate developer with projects in Morocco, Senegal, Mauritania, Tunisia, Algeria and Egypt.