Amethis Fund II, an investment vehicle set by financial group Edmond de Rothschild’s private equity platform, has closed at €375 million, Private Equity International indicates.

Earlier in February 2019, the partial closing at €305 million of this fund was way above the initial target (€300 million). It is also a record of funds raised by the group for investments in Africa this year. For the time being, it is the second most important fund raised for investments in Africa since January 2018, after the $640 million raised by Emerging Capital Partners for its ECP Africa Fund IV.

Let’s remind that during the partial closing, Amethis’ executives indicated that a due diligence process has been initiated by some investors. This means that there could be an increase in commitments.  

The fund’s investment objectives are similar to Amethis Fund I. It is aimed at boosting the capital of medium-sized firms in Africa with €10 million to €30 million investments or co-investments.

Idriss Linge