Willkie advises on the formation of Adenia Capital (IV), Adenia Partners’ fourth fund, focused on investments in Sub-Saharan Africa.
Willkie client Adenia Partners, a private equity fund manager focused on mid-cap buyouts and growth capital investments in Sub-Saharan Africa, recently announced the final closing of Adenia Capital (IV). After being significantly oversubscribed, the fund closed at its hard cap of €230 million of LP commitments six months after its first closing in November 2016, well above its target of €200 million.
The new fund seeks to invest in a variety of growth sectors including, among others, consumer goods, business services, manufacturing, financial services including fintech, ICT and telecommunications, hospitality and healthcare.
Since its incorporation in 2002, Adenia Partners has completed 21 investments and 10 exits. Over its fifteen-year history, the firm has developed a track-record of strong and consistent financial performance while generating solid social and environmental impact. With this fourth fund, Adenia has now raised €375 million in assets.
This transaction highlights Willkie’s growing presence in the Africa private equity space and the firm’s core strength in supporting mid-market emerging private equity firms. The matter was handled by partner Solomon Wifa supported by associates Colin Fulton and John Knapke.