Amethis First closing: mobilizing USD 330m

6 February 2013 • News

Amethis Finance: mobilizing successfully more than USD 330 million for Africa thanks to a successful 1st closing in equity one year after inception and the approval of a USD 150m credit line from OPIC

Amethis Finance, the private investment fund dedicated to long-term responsible investments in Africa, founded by Luc Rigouzzo and Laurent Demey in partnership with La Compagnie Benjamin de Rothschild, made a successful first closing in December 2012, for an initial equity of USD140m, less than a year after having been launched.

Amethis’ shareholding structure is split between 18 private sector shareholders of different magnitude, being the Edmond de Rothschild group, other banks and financial institutions, corporates and family offices from the US, Europe and the Mediterranean. Through this first closing Amethis Finance is proud to have gathered a community of financial and entrepreneurial investors, which share Amethis long term vision and final objective of building a responsible financial company dedicated to Africa. Three other large institutional shareholders, for a total consideration of USD40m, are currently in the latest stage of their appraisal, and should join in the first quarter 2013.

On the debt side, Amethis Finance received the approval from the board of OPIC (the US development finance institution) in December 2012, for a credit facility of USD 150m for a maximum maturity of 13 years, which will finance its lending activity.

While standing with an initial investment capacity of more than USD330m to be deployed in Africa, which is perfect to start, Amethis is going to raise both more capital and debt for its second closing to reach its final target of USD 500m (300 in equity and 200 in debt) by the end of 2013.

Amethis Finance offers investors the opportunity to invest in a Luxembourg regulated closed-end fund, specializing in long-term responsible investments in Africa. It will provide all long-term financial instruments (long-term debt, equity investment and arrangement capacity), with high objectives in terms of development, social and environmental criteria as well as governance.

Amethis will have a strong concentration on the most diversified and fast growing economies of the African continent such as Kenya, Ghana, Ivory Coast, Nigeria, Morocco, Tunisia, Uganda etc.  The Company plans to open regional offices to strengthen its local network and enhance proximity with its clients. It will also support its main global clients and partners in the rest of the continent.

Amethis will be diversified, but with priority sectors which constitute both the biggest bottlenecks of Africa and its greatest return opportunities and which rely on the development of its domestic consumption: financial services, energy and infrastructure, and agribusiness. These sectors are also the areas in which the management team has acquired a considerable experience.