KKR looks set to become the latest global private equity firm to set up shop on the African continent, basing its operations in Nigeria. Reuters reports that the US-headquartered group is looking to invest $100 million in Africa over the next 12 months, focusing primarily on the food and agriculture sectors as well as on energy and infrastructure projects.
“We want to use Nigeria as regional base and springboard for West Africa,” Dominique Lafont, KKR’s recently-appointed Senior Adviser told Reuters. “We are not limited to one sector.”
KKR made its maiden investment foray into the continent in June 2014 with a $200 million investment from its $6.2 billion European fund for a 55% stake in Afriflora, an Ethiopian flower grower and exporter.
Dominique Lafont, the former President and CEO of Bolloré Africa Logistics, joined KKR as a Senior Adviser in July 2015. The global investment firm’s African operations are led by Kayode Akinola, who joined KKR from Helios Investment Partners in 2013.