Maghreb Private Equity Fund III

Location:

Regional

Project number:

43564

Business sector:

Equity funds

Notice type:

Private

Environmental category:

FI

Approval date:

18 Sep 2012

Status:

Signed

PSD disclosed:

18 Sep 2012

Project Description

The EBRD is considering an equity investment of EUR 20 million to Maghreb Private Equity Fund III (“MPEF III” or “the Fund”), a private equity fund incorporated under the laws of Mauritius sponsored by AfricInvest-TunInvest (“the Group”).

The Fund is the third Maghreb-focused fund of the Group in the Southern and Eastern Mediterranean countries (“SEMED”). The Fund will make equity and equity-related investments primarily in small and medium-sized companies in SEMED with the objective of achieving long-term capital growth, thus helping expand access to finance and spur economic growth.

Transition Impact

The EBRD’s investment in the Fund will facilitate the expansion of the private equity market in Tunisia, Morocco and Egypt, as well as provide much needed funding to SMEs in these countries.

It is also expected to have a demonstration effect from innovation and active hands-on approach in investee companies, as well as to set standards for corporate governance and business conduct on the private equity industry, as well as on investee companies.

The Client

The Fund will be managed by Maghreb Advisors Limited, a private company limited by shares with limited life, registered under the laws of Mauritius, and wholly owned by AfricInvest-TunInvest.

AfricInvest-TunInvest is one of the most established local private equity players in North Africa, with total assets under management of approx. EUR 500 million.

EBRD Finance

EUR 20 million.

Project Cost

The Fund held a first closing of EUR 96 million in September 2011; its target size is EUR 200 million.

Environmental Impact

Categorised FI. MPEF III will be required to comply with EBRD's Performance Requirements 2 and 9. The Fund will be required to adhere to the EBRD's Environmental and Social Exclusion and Referral lists, and submit Annual Environmental and Social reports to the EBRD.

Technical Cooperation

None.

Company Contact

Anis Fathallah
Senior Partner
Immeuble Integra
Centre Urbain Nord
Tunis 1082
Tunisia

E-mail: anis.fathallah@tuninvest.com
Tel: +216 71 189 800

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.

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