Emerging market private equity specialist Actis has announced the closing of its USD2.9bn private equity fund, Actis Emerging Markets 3 – one of the largest dedicated emerging markets priv
Emerging market private equity specialist Actis has announced the closing of its USD2.9bn private equity fund, Actis Emerging Markets 3 – one of the largest dedicated emerging markets private equity funds closed this year and double the amount raised by Actis’s previous fund in 2004.
The fund’s commitments, which exceeded its original target of USD2.5bn, come from a diverse group of 100 investors from across the globe, including a number of first-time investors in emerging markets, which Actis says represents a significant endorsement of its track record.
Actis Emerging Markets 3 will be used to build a diversified portfolio of between 30 and 40 investments in Africa, China, India, Latin America and south-east Asia, typically investing a minimum of USD50m of equity capital in buyout and growth transactions. Actis says the new fund gives it the flexibility to allocate capital to the most compelling investment opportunities across emerging markets.
‘We are delighted to have assembled such an outstanding group of investors who continue to recognise the opportunities for private equity investment across the emerging markets, despite the current economic climate,’ says senior partner Paul Fletcher.
‘We believe that underlying economic growth remains resilient in many emerging markets. Much of this growth can be linked to businesses benefiting from consumer demand and increased investment in domestic infrastructure, and Actis’s investment strategy is tailored accordingly.
‘Additionally, our network of experienced investment teams on the ground and our ability to understand and manage risk in a local context means we are well placed to identify attractive investment opportunities. We remain very confident about the long-term prospects of emerging markets and that exceptional opportunities will present themselves during the life of this fund.’
