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London - CDC, the UK government's development finance institution, said on Monday it was investing over $100m in two sub-Saharan Africa focused private equity funds.
CDC is investing $75 million with Helios Investors and €20m with Development Partners International, CDC said in a statement.
CDC is investing in the Helios Investors II fund, which is aiming to raise $600m and will invest in ICT, financial services, infrastructure, consumer products and agribusiness.
CDC has already invested $50m in Helios Investors I.
CDC is also investing in Development Partners' African Development Partners fund, which has raised €270m and will invest in telecoms, technology, financial services, healthcare, retail and leisure, property development and utilities.
The latter fund will have particular emphasis on post-conflict, newly-liberalised countries like Rwanda and Angola, CDC said.
The investments bring CDC's total commitment in Africa-focused funds in 2009 to over $150m.
As the global economy emerges from financial crisis, investors are noting an upturn in African private equity investment.
- Reuters