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Buy-out fund reflects take-off in Africa

The rapid growth of private equity in Africa will be underlined on Tuesday as Kingdom Zephyr announces it has raised $325m for its latest pan-African buy-out fund with backing from Prince Alwaleed bin Talal, the Saudi billionaire.

Africa accounts for only a tiny proportion of the global private equity market and remains a no-go zone for many of the biggest US and European buy-out groups.  However, the fundraising by Kingdom Zephyr highlights how – in spite of occasional setbacks such as Kenya and Zimbabwe – the spread of stable democracy and rapid economic growth is encouraging the rise of private equity across the continent

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http://www.ft.com/cms/s/0/a1abbc8c-46c6-11dd-876a-0000779fd2ac.html