Finance

Tunisia: BluePeak Private Capital invests $16mln in Sotupa, headed by former tennis player Aziz Zouhir

Friday, 16 July 2021 19:42
Tunisia: BluePeak Private Capital invests $16mln in Sotupa, headed by former tennis player Aziz Zouhir

(Ecofin Agency) - After the first closing of its fund focused on Africa and Asia, the asset management company BluePeak Private Capital announces the conclusion of an investment in Tunisia’s hygiene industry.

BluePeak Private Capital has approved a $16 million investment in Tunisian Sotupa. The mezzanine fund manager is committed to supporting the international growth and development of Sotupa, which markets hygiene items and cosmetics in Tunisia and in more than 25 countries worldwide.

Sotupa was founded in 1970 and is currently headed by the businessman and former tennis star, Aziz Zouhir (pictured). The company will receive the investment in the form of equity securities (financial securities that do not grant voting rights or shares in the capital and offer the opportunity to investors who are not partners to bring funds to a company).

This investment by BluePeak comes after it recently raised financing for the first closing of its fund focused on Africa and Asia. The fund manager, which has presence in Tunisia, Nigeria, and Kenya, had stated its intention to make strategic acquisitions in companies that generate revenues of more than $10 million. BluePeak Private Capital, made up of former Gulf Capital executives, hopes to raise around $200 million by 2022 when its first investment fund closes.

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