By Africa Links 24
Published on 2024-04-18 23:11:49
EG Capital is excited to welcome new investors who are interested in committing to its maiden fund, EG-Economic Empowerment LP (EG-EEF), ahead of its First Closing scheduled for mid-2024. Among these investors are African institutional investors associated with the Kenya Pension Fund Investment Consortium (KEPFIC) and several family office investors.
The EG-Economic Empowerment Fund LP (EF-EEF) is focused on providing mezzanine growth capital to mid-cap companies in East Africa and Zambia within the Food, Climate, Health, and Education sectors. KEPFIC, a consortium of local pension schemes, has united to assess and invest in alternative asset opportunities such as private equity and infrastructure. The primary objectives of KEPFIC include enhancing trustee expertise and capacity in alternative assets, as well as offering viable investment opportunities that have undergone rigorous screening processes and investment due diligence support. The consortium members collectively possess assets totaling over USD $5 billion, with USD $115 million already mobilized for alternative asset investments.
Sandrine Henton, the founder and Managing Director of EG Capital, expressed enthusiasm about the new partnerships, emphasizing the potential for generating both tangible returns and impact in East Africa and Zambia. She also highlighted the significance of attracting African institutional investors and family offices to the EG-EEF Fund I vintage, as it enables the mobilization of more private capital for Africa’s development.
Ngatia Kirungie, Head of the Secretariat at KEPFIC, acknowledged EG Capital’s inclusion in the KEPFIC Dealbook 2023, which features 19 fund managers and investment opportunities. Kirungie also noted the growing interest among Kenyan pension funds in allocating resources to invest with EG Capital in sectors like Food, Health, and Education through mezzanine growth financing.
The current partners of the EG-EEF fund include the endowments of the Waterloo Foundation/Whitley Asset Management, the Anesvad Foundation/EuroCapital SA, family offices, EG Capital’s management team, and technical support from USAID, Prosper Africa, and 2x Global.
British Robinson, Coordinator at Prosper Africa, praised EG Capital’s efforts to engage local African institutional investors, enhancing the asset management landscape and highlighting the potential of private capital to support entrepreneurship. Jessica Espinoza, CEO of 2x Global, reiterated the organization’s support for EG Capital through the 2x Ignite community, emphasizing the importance of growing capital managed by women in sectors that align with EG Capital’s focus on Climate Adaptation and Gender.
EG Capital’s goal is to invest up to USD $100 million in 10-12 African SMEs and mid-size companies, with a specific focus on delivering tangible returns and impact in the Food, Climate, Health, and Education sectors.
