African Development Bank to invest $50m in Carlyle Africa Fund

5 Mar 2012
adb, african development Bank, Allocations, carlyle, News

Tunisia-based African Development Bank will invest $50 million in the Carlyle Sub Saharan Africa Fund, Bloomberg reported.


The fund is the first investment vehicle that the US-based private equity firm has raised to expand into sub-Saharan Africa.


The fund plans to invest a total of $500m, with the potential to double the investment through co-investment with other Carlyle funds, the bank said in a statement.


It said the equity investment was approved on 22 Feb.

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