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Actis wins mandate to invest the C$200m Canadian Investment Fund for Africa

Emerging markets private equity investor, Actis, and Canadian fund manager, IFPT Management, have won a mandate to invest the C$200m Canada Investment Fund for Africa. The fund, to launch later this year, will consist of C$100m Canadian government money, with at least an equivalent contribution to be raised from third parties.

'Africa is an exciting market which offers huge opportunities. The strengthening of democracy, the emergence of effective governments and greater liberalisation are all adding to Africa's attractiveness as an investment destination,' said Paul Fletcher, chief executive of Actis. 'Through this investment we will create sustainable long-term business in Africa and demonstrate that investors can make a reasonable rate of return in Africa through thoughtful investment.'

CDC Capital Partners, the UK-based emerging markets investor and former parent to Actis, is understood to be investing C$30m into the fund, alongside a commitment of C$15m from the fund co-manager IFPT Management. Actis and IFPT Management did not submit a joint bid for the mandate but will be jointly responsible for raising the remaining C$55m.

'We are delighted to have been selected to co-manage this fund and look forward to working closely with Actis to ensure the success of the Canada Investment Fund for Africa,' said David Creighton, president and CEO of IFPT Management. 'The fund offers the Canadian private-sector an opportunity to explore enhanced strategic links between Canadian and African businesses, leading to increased trade and investment flows to Africa and vice versa.'

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