NORTH AFRICA – The European Bank for Reconstruction and Development (EBRD) is set to channel up to US$40 million into the newly established SPE PEF III fund, managed by SPE Capital.
The capital infusion is targeted at reinforcing mid-sized enterprises within the economies of Egypt, Morocco, and Tunisia.
SPE PEF III is designed to drive long-term capital appreciation by making equity and quasi-equity investments in the targeted North African countries, with the potential to extend its investment activities into selected countries in sub-Saharan Africa.
Anne Fossemalle, the EBRD’s Director for Private Equity Funds Investment, conveyed her excitement about furthering their alliance with SPE Capital, a pivotal ally in the southern and eastern Mediterranean region.
She praised SPE Capital’s strategic regional footprint, with offices in Tunis, Casablanca, Cairo, and Abidjan, which positions them to effectively support African enterprises in enhancing their operational efficacy, delivering robust investor returns, and contributing to the continent’s prosperity.
This move marks the continuation of a fruitful relationship between EBRD and SPE Capital, which began with EBRD’s investment in SPE AIF I during 2019-2020, the forerunner to the current SPE PEF III fund.
The predecessor fund, AIF I, has been instrumental in advancing the growth of nine companies spanning diverse industries, including healthcare, education, consumer goods, and food processing.
Nabil Triki, Managing Partner and CEO of SPE Capital expressed gratitude for the EBRD’s steadfast backing, which has been vital to the success of their private equity endeavors and broader growth.
He underscored the significance of this support in achieving not just substantial financial returns but also in creating enduring positive social and economic impacts within their markets.
Triki depicted the partnership as a catalyst for sustainable progress and prosperity, enriching both local communities and the broader economy.
In conclusion, Triki affirmed that this collaborative effort solidifies their mutual commitment to fostering robust, high-growth enterprises throughout North Africa and potentially in other African regions.
In June this year, responsAbility, the leading Swiss impact asset manager, announced a contribution to the successful first close of the SPE Private Equity Fund (SPE PEF III) with commitments totaling US$140 million.
The Swiss Investment Fund for Emerging Markets (SIFEM) committed US$15 million, marking a significant step forward in driving impactful investments across North Africa.
responsAbility has been managing SIFEM’s portfolio since March 1, 2023, bringing extensive expertise in impact investing to support SIFEM’s mission.
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