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Spice Capital invests $5m in Africa Oil Corporation

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Spice Capital, the Swiss private equity company that targets investments in the Asia Pacific, Sub-Saharan Affrica and Latin America,  has invested $5 million alongside Helios Investment Partners for a significant minority stake in Africa Oil Corporation, an East African exploration and production company. The size and structure of the stake were not disclosed.

Africa Oil Corporation (AOC), which has a dual listing on the Toronto and Nasdaq Stockholm Stock Exchanges, is an East African-focused oil company with footprint covering 7 oil blocks across Kenya and Ethiopia. AOC’s operating partner is Tullow, the leading E&P group with a long standing presence in Africa. AOC’s management team is backed by the Lundin Group, a successful investor in both the sector and the region.

Spice Private Equity has a long standing relationship with Helios’ principals and it has made a commitment to its current fund. This investment is the firm’s frist co-investment on the sub-Saharan region following its recent strategic repositioning.

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