FMO and FAF launch Fairview Africa Fund
The FMO, the Netherlands Development Finance Company and Fairview Capital Partners (FAF), an American company, have joined forces to launch the Fairview Africa Fund.The FMO, the Netherlands Development Finance Company and Fairview Capital Partners (FAF), an American company, have joined forces to launch the Fairview Africa Fund. The FMO is investing 50 million dollars and aims for a first closing worth twice this amount. FAF will make occasional investments in the private equity funds for specific projects, after due assessment of their soundness.About ten companies could be selected. The process will involve "an analysis of the quality of the management teams, strategy, portfolio performance, legal and fiscal elements as well as the environmental and social impact", Ecofin Agency reports. The launch of Fairview Africa Fund comes after FMO's 40 million euro investment in I&P Afrique entrepreneur, an investment fund dedicated to reinforcing African SMEs' capital. Danone and Bank of Africa had also invested in the operation. The FMO traditionally backs projects in the private sector that aim to support the economic and social development of African countries. According to Jeune Afrique, the FMO benefits from a portfolio worth 6.2 billion euros.