This EMPEA Brief explores the state of the market for first-time private equity funds in emerging markets, with an underlying view that first-time funds and emerging managers are important to sustainable private sector development, and more specifically, to a healthy private equity ecosystem. This article draws upon EMPEA’s insights into fundraising trends and GP and LP perspectives, as well as performance data from Cambridge Associates, to highlight challenges facing newer emerging markets private equity fund managers operating in the current environment.
The Special Report: Private Equity in the Middle East and North Africa provides a data-driven analysis of the broad range of private equity opportunities across the region—with a deep dive into the fundraising and investment dynamics in both the Middle East and North Africa. The publication, researched and written by EMPEA Consulting Services with support from EMPEA Member Firms, features a variety of stakeholder perspectives including local and global fund managers, institutional investors, law firms, placement agents, and local venture capital and private equity associations. The report also features case studies that demonstrate the critical role that private capital can play in building better businesses and driving private sector development.
This EMPEA Brief explores the relationship between investment consultants and institutional investors, including corporate and public pension funds, endowments, foundations, as well as high net worth individuals (“HWNI”) and family offices. These investors control assets ranging from a few million US dollars to billions of US dollars. Consultants offer a range of services and often act as intermediaries between institutional investors and investment managers, essentially holding the keys to the kingdom of vast wealth held by investors.
African pension funds can play a critical role in the region’s private equity industry, mobilizing an estimated US$29 billion and driving economic development, according to research conducted by the Commonwealth, the Making Finance Work for Africa Partnership Secretariat (“MFW4A”) and EMPEA, and kindly supported by The Abraaj Group. This joint report provides information that is crucial to a better understanding and appreciation of the pensions industry in Africa, and highlights how private equity offers pension funds a long-term investment opportunity with diversification and the potential to outperform.
EMPEA is delighted to present this special edition of Private Credit Solutions: Mezzanine Financing in Emerging Markets, our first in-depth look at the role that private credit plays in supporting the development of small- and medium-size companies across the emerging markets, and in offering institutional investors a means of accessing this growth. This inaugural private credit report takes a deeper look in particular at mezzanine, an instrument that occupies the space between debt and equity in a firm’s capital structure, and offers entrepreneurs a financing option with fewer restrictions than pure debt and less ownership dilution than pure equity.
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