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HedgeCo.Net \u2014 CardinalStone Capital Advisers reached a $76 million first close on CCA Growth Fund II, Africa Private Equity News reported from the Lagos manager on August 24. Africa Digest independently printed the same $76 million first close. The vehicle will target small and mid-sized companies in Nigeria, Ghana, C\u00f4te d\u2019Ivoire, and Senegal, both outlets said.<\/p>\n
Returning development-finance institutions from the first fund include the International Finance Corporation, British International Investment, and SCM Capital. New names on the cap table include the Dutch Good Growth Fund and CardinalStone Partners, plus Nigerian pension managers Stanbic IBTC Pension Managers, Access ARM Pensions, and FCMB Pensions. Africa Private Equity News and Africa Digest both carried that LP mix.<\/p>\n
The fund is led by Femi Ogunjimi, Yomi Jemibewon, and Shirley Somuah. IFC\u2019s Farid Fezoua, director for equity, funds, and venture capital, called West African SMEs the engine of job creation and framed the commitment as a way to close a long-term capital gap. BII\u2019s Sara Taylor, head of private-equity funds and co-investments, called the close a test of mobilizing domestic and international private capital together. Those are LP comments, not a performance print.<\/p>\n
Do not invent a hard cap or a remaining raise. A $120 million target appears in some coverage; Africa Private Equity News did not print it in the available account. Keep the object as a $76 million first close with named DFIs and named Nigerian pensions. Ticket sizes and Fund I\u2019s 2020 close are not dual-sourced here; leave them off.<\/p>\n
The second-order read is domestic pension money sitting next to IFC and BII on a West Africa SME book. That is a different LP mix than a DFI-only first fund. Anyone still treating African private equity as a foreign-currency exercise is behind the pension line on this close.<\/p>\n","protected":false},"excerpt":{"rendered":"
HedgeCo.Net \u2014 CardinalStone Capital Advisers reached a $76 million first close on CCA Growth Fund II, Africa Private Equity News reported from the Lagos manager on August 24. Afric\u2026 Continue reading