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Monday, July 13, 2020 / 08:47 AM / By Helios /
Header Image Credit: CDC/Helios/Ecographics
The CDC Group (formerly
the Commonwealth Development Corporation, and previous to that, the Colonial
Development Corporation) is UK's development finance institution has
provided USD 100million to a fund run by private equity firm Helios.
United Kingdom
development finance institution (DFI) CDC Group has furthered its partnership
with Africa-focused private equity investor Helios, committing USD 100 million
to its latest fund.
Helios Investors IV is
the fourth such fund run by Helios and it is the first time CDC has invested in
one of its funds since 2009, which the DFI said was a vote of confidence in the
firm's work.
Managing director and
head of Africa funds, and funds and capital partnerships at CDC, Clarisa De
Franco, said in a statement: "Our investment will allow growing African
companies to access much-needed finance to support their development and
expansion at a particularly challenging time in the markets."
CDC said its investment
in the fund would go towards job creation, sustainable employment and Covid-19
recovery. It praised Helios' good practice on environmental, social and
governance management in a statement.
De Franco added that
CDC hoped to contribute to the recovery of African trade and investment after
Covid-19, saying: "I'm confident our investment in Helios will help catalyse
additional commitments from institutional investors, thereby allow the firm to
invest in promising companies, create lasting jobs, and accelerate progress
towards the SDGs [sustainable development goals] across the region."
CDC's portfolio value
is now worth GBP5.8 billion. Established in 2004, Helios has operations in
Lagos and Nairobi and investments active in 30 African countries.
It comes shortly after
CDC formed with Societe General and Finland's DFI, having
invested in Ghanaian medical supply company mPharma. CDC committed to
GBP 2billion of new African investments over the next two years .
Credits
The post CDC Backs Helios Fund by Andrew Mizner first appeared in of ICLG's African Law and Business
on Friday, July 10, 2020.
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