Investment bank Brait SA has launched Africa's largest private equity fund, the $880 million Brait Fund IV, drawing investment from global players in what executives called a sign of confidence in South Africa.
Brait, whose Private Equity Division is one of the biggest in the South African private equity industry, said foreign investors in the fund include HarbourVest Partners and Princeton University Investment Company.
"We managed to persuade them that South Africa is an excellent destination for private equity as an asset class ... It is not short-term portfolio flows but someone that invests and stays in the economy for a long period," Brait director Eduardo Garcia said on Wednesday.
South Africa has seen a surge in private equity activity in the last year as big players have moved into Africa's biggest economy.
Read Full Article at Reuters South Africa
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