BIO participates in the closing of MPEF III

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09.09.2011

Supporting SMEs and their growth

BIO is pleased to announce the first closing of the multi-sector private equity fund Maghreb Private Equity Fund III LLC (‘MPEF III’), with a size exceeding Euro 96 million of capital commitments alongside prestigious DFIs and institutional investors. MPEF III aims at financing Small and Medium Enterprises in Maghreb showing a strong growth potential and thus a direct impact on the local economy. MPEF III has been set up in the wake of the MPEF II fund in which BIO has already participated. Moreover, both Morocco and Algeria are partner countries of the Belgian Development Cooperation.

MPEF III is a 10-year fund managed by the TunInvest-AfricInvest Group, with a target size of Euro 150 million. It will target investments in Small and Medium Enterprises in Algeria, Morocco, Tunisia and Libya and, on an opportunistic basis, Egypt, that are well-established in their local markets and that have the potential to scale up their activities at the regional level. By investing in companies showing a significant potential to grow, MPEF III will contribute to creating new jobs, promoting corporate governance, increasing foreign-exchange receipts, generat ing tax revenues for the governments of the Region and more generally to regional economic integration in North Africa.

MPEF III will be investing in a broad variety of sectors with a strong focus on manufacturing for export and companies aiming at expanding at the regional or continental level. The targeted investments will also include sectors such as IT and telecoms, services, health, education, transport and agribusiness.

Other investors include the African Development Bank, FMO (the Dutch Bank for Development), the IFC of the World Bank Group, CDC Entreprises Elan PME (leading institutional investor in private equity funds in France and affiliate of the Caisse des Dépôts et Consignations of France), DEG (the German Development Agency), Proparco (Affiliate of the French Development Agency), SIFEM (the Swiss Investment Fund for Emerging Markets) and Averroes Finance II (a fund of funds regrouping prestigious investors).


About TunInvest-AfricInvest Group

TunInvest-AfricInvest Group was founded in 1994 and is today a leading private equity firm in North and sub-Saharan Africa with over $700 million of assets under management and sponsored by prestigious DFIs, private and institutional investors. TunInvest–AfricInvest Group relies on a team of 40 highly skilled investment professionals with over 120 years of cumulative PE experience, operating out of 6 offices in Tunis, Casablanca, Algiers, Lagos, Abidjan and Nairobi.

The TunInvest-AfricInvest Group is the co-founder of the African Venture Capital Association (www.avcanet.com), the MENA PE Association (www.menaprivateequity.com) and a member of the Euromed Capital Forum (www.euromed-capital.com).

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