TPG/Satya, the partnership between private equity firms TPG Growth and Satya Capital announced the appointment of Donald Kaberuka as a Senior Adviser. Mr. Kaberuka stepped down from being the President of the African Development Bank in August this year, having served two 5-year terms at the helm of one of the continent’s largest financial institutions.
“Mr. Kaberuka will provide counsel and insight on investment opportunities on the continent, TPG/Satya said in an emailed statement. “He has a deeply held optimism about Africa’s future and the role of private investment in unlocking that opportunity.”
In June this year, TPG became the latest international private equity firm to start targeting investment opportunities in Africa, linking with Satya Capital to establish a partnership with plans to invest up to $1 billion in healthcare, consumer, TMT and financial services deals on the continent. In September, TPG/Satya made their debut deal with a $25 million investment to take a minority stake in Ecoles Yassamine, a chain of private schools in Morocco.
TPG Growth is part of TPG, the $70 billion Forth Worth, Texas and San Francisco, California-based investment company, and specializes in emerging markets. Satya Capital was founded by Celtel International founder, Mo Ibrahim, and targets investments of $20 million to $150 million in African businesses.