Milost Global has partnered with Monnaie Africa (Monnaie), a Mauritius based Investment holding firm, to launch Isilo Fund 1, a new and agnostic Private Equity Fund which will be focused on leveraged buyouts and restructuring of Microcap companies in Africa.
By the end of this month, Milost and Monnaie will form Isilo, a Mauritius GP which will act as the fund manager to Isilo Fund 1. Milost Global Inc. GPs will own 70 per cent interest in Isilo whereas Monnaie will hold 30 per cent. The closed ended Africa Fund will seek to raise a total of $1 billion within the next 9 months and will have a life of 10 years. Isilo will be domiciled in Mauritius, which is increasingly positioning itself as one of the preferred gateways to Africa for global Institutional investors. The GP firm will further house its investment team in Johannesburg, at the Milost Africa headquarters.
Milost Global Inc Managing Partner & CEO Mandla J Gwadiso , says: “Isilo is a logical extension of Milost’s investment activity, when Amit approached us with this idea, we knew that the fund would serve companies that have been neglected by PE for decades. We are thrilled at what we believe will help bolster entrepreneurial growth and boost business morale for these even smaller companies in Africa. We look forward to holding hands with Monnaie in bringing permanent funding solutions for small businesses in Africa, thereby creating employment opportunities and eradicating poverty.”
