Mediterrania launches €250m third North Africa fund

Amedeo Goria
10 March 2017

Tweet
Facebook
LinkedIn
Google plus
Send to

Spanish buyout fund manager Mediterrania Capital Partners has launched its third North Africa-focused vehicle, Mediterrania Capital III, with a €250m target.

Deviating from its predecessors, the vehicle will extend its geographical scope from SMEs based exclusively in the Maghreb region to include those headquartered in sub-Saharan countries, such as Ivory Coast, Senegal and Cameroon. The fund will invest in companies with an equity value ranging between €25-400m.

The GP expects to hold a first close in Q4 2017 and forecasts a three-to-four year investment phase.

Mediterrania Capital expects commitments to the third fund from the GP's existing investors, which include corporates, pension funds, funds-of-funds and family offices from the US, Canada, Europe, the Middle East and Africa.

The fund manager is based in Barcelona and has offices in Casablanca, Cairo, Tunis, Valletta, Algiers and Abidjan. It currently manages two vehicles, Mediterrania Capital I and II. The former reached a final close in Q2 2008, while the latter closed in Q4 2013 and is now 80% deployed, according to a statement.

The GP's current portfolio include companies operating in several sectors, including financials, pharmaceuticals, education, consumer, industrials, transport and logistics, support services and telecommunications.