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This article is sponsored by EG Capital
EG Capital is pleased to welcome new investors who intend to commit into its maiden fund, EG-Economic Empowerment LP (EG-EEF), ahead of its First Closing planned for mid-2024, including African institutional investors under the umbrella of the Kenya Pension Fund Investment Consortium (KEPFIC) as well as several family office investors.
The EG-Economic Empowerment Fund LP (EG-EEF) is investing mezzanine growth capital into mid-cap companies in East Africa and Zambia within the Food, Climate, Health and Education sectors.
KEPFIC is a consortium of local pension schemes that have come together to jointly assess and invest into alternative asset opportunities including private equity and infrastructure. KEPFIC’s primary goals are (i) building trustee expertise and capacity in alternative assets and (ii) providing viable investment opportunities which have been pre-screened for suitability and investment due diligence support. The consortium members have assets of over USD $5bn in aggregate from which USD $115 million has been mobilized to date for alternative asset investments.
Sandrine Henton, founder and Managing Director of EG Capital said, “We are delighted to welcome new partners, and together build our collaboration to generate tangible returns and impact for East Africa and Zambia. We are very excited and pleased to welcome African institutional investors and family offices into the EG-EEF Fund I vintage as this helps us mobilize more private capital for Africa.”
Ngatia Kirungie , Head of the Secretariat at KEPFIC, added: “We included EG Capital amongst 19 fund managers and other investment opportunities into the KEPFIC Dealbook 2023, and we are delighted to see the EG-EEF proposition generating significant interest from Kenyan pension funds to allocate towards investing with EG Capital in Food, Health, and Education via mezzanine growth financing.”
Existing partners to the EG-EEF fund include the endowments of the Waterloo Foundation / Whitley Asset Management, the Anesvad Foundation / EuroCapital SA, family offices, and the management team at EG Capital, as well as technical support from USAID, Prosper Africa and 2x Global.
British Robinson, Coordinator at Prosper Africa, added: “We are delighted that EG Capital, one of the partners under our Catalytic Investment Facility, is growing the asset management landscape to include local African institutional investors. This announcement builds on Prosper Africa’s collaboration to increase U.S. investors in the fund and illustrates how private capital can help diversify and fuel entrepreneurship.”
Jessica Espinoza, CEO, 2x Global, added: “We are delighted to support EG Capital via 2x Ignite community of emerging female led fund managers in Africa, and growing the allocation of capital managed by women for returns and impact, particularly in the sectors EG Capital supports at the nexus of Climate Adaptation and Gender”.
EG Capital aims to invest up to USD$100 million, into 10-12 African SMEs and mid-size companies, delivering tangible returns and impact in the Food, Climate, Health and Education sectors.
