From a modest $35 million fund closed in 1998, Nigeria’s private capital industry has grown into one of Africa’s most dynamic markets. A report by Banwo & Ighodalo estimates that the country now attracts as much as 31.4 percent of all private equity investments on the continent. The sector’s rise can be traced to Africa Capital Alliance (ACA), which pioneered activity with its Capital Alliance Private Equity (CAPE) I fund. That initial $35 million close set the stage for what has since become an industry worth billions of dollars, suppor
From a modest $35 million fund closed in 1998, Nigeria’s private capital industry has grown into one of Africa’s most dynamic markets. A report by Banwo & Ighodalo estimates that the country now attracts as much as 31.4 percent of all private equity investments on the continent. The sector’s rise can be traced to Africa Capital Alliance (ACA), which pioneered activity with its Capital Alliance Private Equity (CAPE) I fund. That initial $35 million close set the stage for what has since become an industry worth billions of dollars, suppor