SGAM Alternative Investments (SGAM AI) has announced the first closing at EUR 100 million of SGAM AI Kantara, a private equity fund targeting investments in expansion capital and buy-out t
SGAM Alternative Investments (SGAM AI) has announced the first closing at EUR 100 million of SGAM AI Kantara, a private equity fund targeting investments in expansion capital and buy-out transactions in Morocco, Algeria, Tunisia and Egypt. This fund will focus on established companies that are set to benefit from the development of the region.
The European Investment Bank (EIB) and Société Générale are major investors in this fund, alongside informed institutional investors from Europe, the Gulf and Morocco.
SGAM AI Kantara will be one of the first internationally backed private equity funds with a dedicated team located throughout the region and supported by the local Société Générale banking network. This regional presence will accelerate the international development of the companies the fund will invest in.
In Morocco, SGAM AI Kantara already benefits from the business of Société Générale Marocaine de Banques which gives it privileged access to the local economic fabric. Its local fund management team (SGAM AI Maroc), will get deeply involved in the value-creation strategy of the companies in the portfolio.
The launch of SGAM AI Kantara builds on the successful track record of the SGAM AI Private Equity Emerging Market Group, in particular the SG Romania Fund and the Baltic Republics Fund, and follows the successful launch of SGAM Eastern Europe Fund, which had its first closing early in 2006.
Philippe Brosse, CEO of SGAM AI, commented: ‘With the development of a private equity business in North Africa, we wish to allow investors to benefit from the synergies with Société Générale Group’s existing activities in retail and corporate banking and financial services. The successful first closing of the SGAM AI Kantara Fund is another major step in the development of SGAM AI Private Equity in emerging markets, which is one of its major areas of development for the future.’
