Vantage Capital announces the final close of its fourth mezzanine fund

Vantage Capital announces the final close of its fourth mezzanine fund

Vantage Capital (www.VantageCapital.co.za), Africa’s largest mezzanine fund manager, announced today the successful final close on its fourth mezzanine fund. A total of US $377 million of commitments has been secured from a mix of European and US-based commercial investors, as well as a host of development finance institutions (DFIs) that include IFC, BII, SIFEM, DEG, Norfund, Swedfund, Finnfund and EIB.

As with its predecessor funds, Vantage will continue to provide mid-sized African businesses with flexible capital to drive business expansion and support job creation. In particular, mezzanine debt is well-suited to robust sectors with strong growth dynamics, including telecoms, healthcare, education, real estate, export manufacturing, outsourced services and selective infrastructure such as private power generation. Fund IV has made two investments to date, providing early-stage construction funding to Seaton Estates in South Africa for a residential development on the KwaZulu Natal coast, and backing a prominent Egyptian private equity firm, Compass Capital, to acquire a portfolio of A grade office buildings in Cairo as they build a diversified portfolio of income-generating real estate assets.

Warren van der Merwe, Managing Partner, noted, “Vantage is proud of the continued support received from our investors. We were the first independent mezzanine fund in South Africa