Amethis announces the final close of Amethis Fund II at EUR 375 million, well above target

Amethis, the investment fund manager dedicated to long-term responsible investments in Africa, is pleased to announce the final close of its second Pan-African fund, Amethis Fund II, which collected EUR 375m from more than 70 investors in Europe and Africa, exceeding its initial target of EUR 300m. Amethis, founded by Luc Rigouzzo and Laurent Demey in partnership with the Edmond de Rothschild Group, manages two other funds, Amethis Fund I (PanAfrican focus, EUR 250m) and Amethis Maghreb Fund I (North African focus, EUR 75m) and advises Amethis West Africa (West African focus, EUR 45m).

Limited partners include existing Fund I investors and new investors, with close to 70 private investors, representing over 70% of all commitments. This unique set up benefited from synergies with the Edmond de Rothschild Group’s network which granted a privileged access to qualified private investors. Both the Edmond de Rothschild Group and Ariane and Benjamin de Rothschild’s family have renewed their trust and reinvested in the new fund. Private investors count both family offices, individuals and institutional investors from Europe and the Mediterranean. Amethis is also proud to have earned the support of several Development Financial Institutions, representing 30% of the Fund’s commitment: CDC, European Investment Bank (EIB), the International Finance Corporation (IFC), Proparco, DEG, as well as Bpifrance, the French public investment bank.

This successful fundraising shows the confirmed interest of private investors to invest in private equity in Africa, and their renewed faith in the development of the continent.

Thanks to its diversified investor base and the support of the DFI community, Amethis aims at bridging the gap between European private sector investors and African companies, creating a unique ecosystem and building bridges across sectors and regions, to the benefit of all stakeholders.

Amethis Fund II follows the same investment strategy as Amethis Fund I by providing growth capital to African mid-cap champions, through investments with an average ticket size of EUR 10-40m, or more through co-investment. Amethis will continue being an active shareholder, supporting entrepreneurs by giving them access to Amethis’ international network and external growth opportunities, while improving their efficiency and governance. A key priority for Amethis Fund II is also the implementation of a rigorous and ambitious environmental and social strategy.

Amethis Fund II aims for geographic and sector diversification, targeting sectors delivering goods and services to the middle class of African consumers: industry, distribution, consumer goods, financial services, telecommunications, health and education. Amethis Fund II focuses on countries that have an economic growth driven by their strong domestic demand and that are resistant to global headwinds.

With five offices in Paris, Abidjan, Casablanca, Nairobi and Luxembourg, Amethis can rely on a team of close to 30 experienced professionals with high regional and sector expertise and benefits from a fruitful alliance with the Edmond de Rothschild Group. Today, Amethis has a proven track record of investment in Africa with over EUR 725m raised and 23 deals invested.

 

Managing Partners Luc Rigouzzo and Laurent Demey stated: “We would like to thank the over 100 direct and indirect investors who have shown their commitment to Africa and to the Amethis team, to those who have kept supporting us and to the many newcomers. With our partner the Edmond de Rothschild Group, we will continue to support the dreams and vision of African entrepreneurs, by bringing them not only capital but also the access to a broad network of partners.”

Johnny El Hachem, CEO of Edmond de Rothschild Private Equity, says: “Edmond de Rothschild has a long history in Africa and our partnership with Amethis over the last 8 years which reflects our conviction about the opportunity this continent offers for responsible long-term investments. As a strategic partner, we are convinced that Amethis has proved stability through its teams and proved the resilience of its strategy to accompany African entrepreneurs in developing sustainable growth and build regional champions. With this second fund, Amethis confirms its position as a key player on the African continent.

 

ABOUT AMETHIS

Amethis is an investment fund manager dedicated to the African continent, with an investment capacity exceeding €725m, founded in partnership with the Edmond de Rothschild Group. Amethis brings growth capital to promising midcap champions in a diversity of sectors throughout the African continent. As an active shareholder, Amethis offers key support and expertise through its international network, its opportunities of external growth and its value-added governance.

 

ABOUT EDMOND DE ROTHSCHILD

Edmond de Rothschild is an ambitious, independent family-run investment house founded in 1953, which specialises in private banking and asset management based on the idea that wealth should be used to create tomorrow’s world. In all its activities, the Group focuses on bold strategies and long-term investments which are rooted in the real economy – infrastructure, healthcare and impact investing. The Group has € 150 billion in assets under management, 2,700 employees and 32 sites worldwide as of 31 December 2018.  It is also active in corporate finance, private equity and fund administration.