CDH advises Metier on successful final close of Metier Capital Growth Fund III
The Fund aims to make significant investments in mid-market companies within sub-Saharan Africa, focuses on sectors poised for growth due to regional economic and demographic trends such as telecommunications, information technology, and energy.
John Gillmer, Co-Head of Private Equity from CDH says the firm provided comprehensive legal support to Metier, navigating the complex regulatory landscape, negotiating with a range of investors including development finance institutions and other institutional investors, ensuring compliance with all relevant legal requirements, and co-ordinating the final close across South Africa and Mauritius (in collaboration with Mauritian counsel BLC Robert & Associates).
Paul Botha, CEO and co-founder of Metier, expressed his gratitude for the support received from investors, particularly in the challenging fundraising environment currently faced by the African private equity industry. "We are pleased with the support shown by our investors to Metier and for this result given the tough fundraising climate the African private equity industry is experiencing," said Botha.
The Fund has already made three investments since its first close in September 2023 and is positioned to make additional investments by the end of the year. "The Fund is positioned to make additional investments before the end of this year given the vibrant deal pipeline we are observing. We seek opportunities that require growth capital with the potential to deliver top quartile returns and positive developmental impact," Botha added.
The geographic focus of the Fund is on sub-Saharan Africa, aiming to make eight to twelve equity and equity-related investments into mid-market companies with robust growth potential. These investments are supported by a combination of international and South African investors, including significant commitments from international development finance institutions and South African financial institutions.
John Gillmer says CDH’s long history in advising large-scale fund closures highlights its commitment to supporting private equity firms in achieving their investment goals while ensuring compliance with stringent legal frameworks.
The CDH investment funds team was led by directors John Gillmer and Wayne Murray and supported by Counsel, Nuhaa Amardien and associates Jenny Harwin, Claudia Moser and Caela Williams-Short.
