European Investors Support Vantage With $75m of Commitments
(Thomson Reuters ONE) -
DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH ("DEG") and four
other European investors are contributing a total of approximately $60m to
Vantage's third fund
JOHANNESBURG, South Africa, April 28, 2015 (GLOBE NEWSWIRE) -- Vantage Capital
(http://www.vantagecapital.co.za), Africa's leading mezzanine debt provider,
today announced that the DEG - Deutsche Investitions- und
Entwicklungsgesellschaft mbH ("DEG") and four other European investors are
contributing a total of approximately $60m to Vantage's third fund. DEG's
commitment to Fund III is $20m. In addition the DEG is providing $15m to a co-
investment with Vantage in Surfline Communications, the leading 4G LTE network
operator in Ghana. Vantage invested $15m in Surfline from its second fund late
last year.
Logo Vantage Capital Group: http://www.photos.apo-opa.com/plog-
content/images/apo/logos/vantage-logo.png
Photo: http://www.photos.apo-opa.com/index.php?level=picture&id=1914
Gunnar Stork, Director Equity & Mezzanine for Africa and Latin America, said,
"DEG is excited to partner with Vantage to invest in Surfline, a company that we
believe will contribute to improve internet connectivity in Ghana to bridge the
digital divide. We are pleased to continue our partnership with Vantage in
general by investing in Fund III, after having already been an investor in
Vantage's first Mezzanine Fund. We believe in the mezzanine asset class in
Africa and see it as an important instrument to facilitate economic growth." The
funds committed by DEG to Surfline will be used for the on-going expansion of
the company's 4G LTE network in Ghana as well as to enhance its product
distribution and marketing capabilities.
Colin Rezek, Managing Partner at Vantage, said, "We are extremely pleased to
receive the strong endorsement of DEG for our third mezzanine fund, which will
employ a pan-African investment approach to focus on high-growth markets such as
Ghana, Nigeria, the East African Community members and some of the Southern
African Development Community (SADC) countries. We also welcome DEG as a co-
investor in Surfline, one of the most exciting deals out of the over 600
investment opportunities we have reviewed in Fund II."
DEG joins other investors that have committed funds to Vantage, including a
major South African pension fund and foreign investors like the Swiss Investment
Fund for Emerging Markets ("SIFEM") which is advised by Obviam. Obviam's CIO,
Andrea Heinzer stated: "Based on Vantage's robust and positive track record in
South Africa, we see Vantage Capital as the ideal partner for SIFEM to develop
the mezzanine asset class in Sub-Saharan Africa."
Vantage has made 12 investments in its second fund; 90% of available funds have
been invested. Over half of the capital deployed has gone into growth projects
such as Surfline. Vantage is targeting a final close of its third mezzanine fund
at approximately $250 million later this year.
Distributed by APO (African Press Organization) on behalf of Vantage Capital
Group.
CONTACT: For more information contact:
Warren van der Merwe
Chief Operating Officer
warren(at)vantagecapital.co.za
Tel: +27 11 530 9106
Mokgome Mogoba
Associate Partner
mokgome(at)vantagemezzanine.com
Tel: +27 11 530 9133
Diana Njuguna
Associate
Diana(at)vantagemezzanine.com
Tel: +27 11 530 9131
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vantage Capital via GlobeNewswire
[HUG#1915863]
Datum: 28.04.2015 - 11:29 Uhr
Sprache: Deutsch
News-ID 388872
Anzahl Zeichen: 4417
contact information:
Town:
Johannesburg
Kategorie:
Business News
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