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

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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