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Development Partners International closes Fund II 45% ahead of goal

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Development Partners International has closed its second Africa-focused fund at $725 million, exceeding, in another clear sign of strong investor interest in the Africa-focused private equity asset class, its target by some 45%.  The fund manager’s CEO and CIO, Runa Alam, told the Financial Times that the firms first fund has made two full exits of its nine investments, posting internal rates of return in excess of 30%.  The new fund will target similar opportunities to the first, targeting industries and firms that benefit from expansion of Africa’s emerging middle class.

Read more at The Financial Times…

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