Private equity firm BluePeak mobilizes resources for first credit line in Africa
Monday, 18 November 2019 16:51
BluePeak, a private equity firm recently founded by former Gulf Capital executive Walid Cherif (pictured), has started mobilizing money for its very first credit fund. The company aims at raising $200 million.
BluePeak indicates that it wants to support African SMEs which have trouble accessing credit. The fund is designed to seek debt financing opportunities in African SMEs, with an allocation of resources that will be equally divided between North Africa and sub-Saharan Africa. The company’s managers said they mainly target East and West Africa, in the sub-Saharan region.
The fund will not seek to engage in highly cyclical sectors such as tourism, it will rather focus on sectors such as health, education, consumer services, telecommunications, infrastructure, and real estate. BluePeak hopes it will reach its fundraising target by mid-2020.
Idriss Linge
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