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| Additional information |
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| African Capital Alliance (ACA) |
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Profile:
African Capital Alliance (ACA) is a leading private equity firm focused on Nigeria and West Africa. ACA was founded in 1997 with a mission to build Africa’s premier private equity investment firm by mobilizing capital, technology and management resources from local and international sources to unlock Africa’s private sector potential. Through our funds, we strive to improve the economic landscape of Nigeria and Africa while earning superior returns for our investors based on management excellence through professionalism and unquestionable integrity.
Our shared values and core competences include: we are people-centric – the character and competence of our people make the difference; we are builders – focused on long-term value creation; deeply committed to excellence, professionalism and personal integrity; we are change agents – our people are proactive and action-oriented; and we continue to develop trusted relationships and an extensive network to support our entire business cycle from fund-raising to investment making to achieving successful exits. Our partners and staff are experienced in providing extensive analytical, strategic and operating support to investee businesses. These capabilities enable investee businesses to develop and execute strategies that create competitive advantage and superior returns. Additionally, our close working relationships with a number of alliance partners, supplement ACA’s core resources.
ACA’s first fund, Capital Alliance Private Equity I (CAPE I), a $35 million fund, is fully invested with investments in leading sectors of the economy such as telecommunications, information technology, outsourcing, transportation, media publishing and entertainment and oil and gas. CAPE I has notable investment successes which include the investment in MTN, exiting its investment in the transportation company, Associated Bus Company via an IPO offering on the Nigerian Stock Exchange; and propelling the media publishing company, BusinessDay to become the top business focused news publication in Nigeria. CAPE I is currently on track to return over 10 times money and 45% IRR to its investors.
CAPE II was launched in 2005 as a follow-on fund to CAPE I and finally closed at US$100 million. CAPE II has deployed most of its capital and has made investments in Virgin Nigeria Airways, Nigeria’s flag carrier; Swift Networks Limited, a licensed broad-band fixed wireless access operator; Cornerstone Insurance, one of Nigeria’s leading life and general insurance providers; and eTranszat, an electronic payment platform.
Following a Federal Government initiative to jumpstart small and medium scale enterprises (SMEs) in the economy, ACA formed SME Partnership to manage the SME funds for 10 of the 25 banks in Nigeria, and has successfully deployed capital in companies such as FPFI, a pressure vessel fabrication company; Falcongaz, a natural gas distributor; Vic Lawrence & Associates (VLA), the executive development and training firm; Oakwood Park Hotel and Executive Center; and a cell site installation company called Accat Nigeria.
ACA’s real estate focused fund, Capital Alliance Property Investment Company (CAPIC) is targeted to close at $200 million, with a mandate to make equity and quasi-equity investments in the acquisition, development and financing of residential, commercial and hospitality real estate projects in West Africa. The fund had its first closing in March 2008 and has commenced investment activities.
We are currently raising our third private equity fund, CAPE III, a $350 million fund which builds on the successes of the earlier funds under ACA management. The investment thrust is to make privately negotiated equity and equity-related investments in high growth target sectors in countries in West Africa, including the Gulf of Guinea countries. Target sectors include: Energy (Power, Oil & Gas- local content, downstream and services); Information technology and telecommunications; financial services; and outsourcing and services. |
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