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BluePeak announces first close of $115m capital fund

BluePeak Private Capital – an alternative investment firm with a strong focus on Africa – yesterday said that it had raised capital of over $100 million for the initial closing of its private credit and mezzanine fund. The Fund targets a final close of $200 million, with a hard cap of $250 million. Walid Cherif, Co-founder and Managing Director of BluePeak Private Capital, said: “I am particularly delighted and pleased to have reached this important milestone for BluePeak. It’s quite an achievement for a firm that was launched less than two years ago.

“The quality of investors who supported us and led the first close of this flagship fund is a testament to the strong experience and operational setup of BluePeak and its team.” The Fund’s initial closing is backed by leading African investors, including CDC Group, the UK’s development finance institution and impact investor; the European Investment Bank, the European Union’s bank, DFC, the US Development Finance Corporation, FMO, the Dutch entrepreneurial development bank and the “Caisse des Dépôts et Consignations,” CDC Tunisia.

The Fund will provide bespoke financing solutions to small and mid market companies and private equity sponsors operating in Africa that generate revenues between $10 million and $80 million and operate in growth sectors that are non-cyclical in nature, have strong management teams and a good track record of financial performance. As well as a strong focus on the ESG in every investment, BluePeak will also proactively identify areas where positive impacts can be achieved. Adam Hadidi, Cofounder and Managing Director of BluePeak Private Capital added: “SMEs in Africa are still facing financing challenges despite their critical role in the growth and stability of African economies. “The COVID-19 crisis made the needs more substantial and the opportunity to support great businesses undeniable. Asset-light companies which operate in attractive sectors still find it difficult to obtain financing from the traditional credit markets, even when they have a good track record of financial performance and numerous opportunities for growth.”

 

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