Boutique private equity firm, SPE Capital Partners, has raised US$258 million following the final close of its North African-focused fund.
The SPE AIF I fund was oversubscribed and exceeded its initial target of $200 million, according to the firm.
Launched in 2019, the fund has a mandate to invest in North African companies.
Investments to date include four companies including two pharmaceutical firms in Egypt and Morocco, a Tunisian school operator, and a Moroccan consumer goods producer.
SPE Capital managing partner and chief executive, Nabil Triki, said that fund closing was “a vote of confidence” from investors adding that the current “challenging environment” underlined the importance of investing in “resilient sectors and high-quality companies”.
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