Rockwood planning to raise $500m for private equity fund

Mar 11, 2016

The fund will mainly target South African companies.

South African private equity firm Rockwood plans to raise $500 million (€455 million) for its new fund dedicated to Africa, according to a report from South African newspaper Business Day.

"It will be a generalist fund investing primarily in South African industrial and service companies with leveraged buyouts," said managing partner Andrew Dewar. "The country is rich with private-equity opportunities."

He added that the company also plans to invest in other African countries such as Kenya and Nigeria, due to "almost all the growth being outside South Africa’s borders".

In 2006, Rockwood's first fund was closed at 6.2 billion rand (€364 million).

This announcement comes just days after GIC, a Singaporean sovereign wealth fund, said it has invested $100 million in two private equity funds in Africa.

Private equity firms raised $4.3 billion last year for investing in Africa, the largest amount in six years.ADNFCR-2976-ID-801814410-ADNFCR