Stéphane Le Bouder, who joined Advanced Finance and Investment Group (AFIG Funds) in 2013, has been promoted to Managing Director at the Dakar-based private equity fund manager. Prior to joining AFIG Funds, Le Bouder has worked within the Obama administration in Washington, DC where he served as Deputy Assistant Secretary for International Affairs at the U.S. Treasury.
Commenting on the promotion, AFIG Funds’ CEO, Papa Madiaw Ndiaye, said “Stéphane’s contribution since joining AFIG Funds has been important in laying the foundation for our continued success and growth… Through his work at AFIG Funds, Stéphane has demonstrated his capacity to accurately assess and manage risk in an increasingly volatile environment and provide the internal and external leadership required to be successful in a rapidly evolving African PE market.”
AFIG Funds, which also has offices in Johannesburg and Washington, DC in addition to its Dakar headquarters, manages the now-fully deployed $122 million Atlantic Coast Regional Fund which growth capital investments across a number of sectors in companies across West, Central and East Africa. The firm is currently raising its second fund, targeting $300 million, which will build on the successful investment strategy of the first fund.
“It is a true privilege to be a member of a team with such diverse backgrounds and skills, and to be offered an opportunity to play a leadership role as AFIG Funds continues to build on its solid foundation,” Le Bouder was quoted as saying in the statement announcing his promotion. “As Africa’s middle class continues to grow, and its markets mature, we believe that our tested approach to value-added investing and active engagement with portfolio companies to build regional champions will continue to yield strong returns for our investors.”