http://www.amethisfinance.com/news/amethis-finance-successfully-mobilizes-usd-530-million-for-african-entrepreneurs/
Amethis Finance, the private investment fund dedicated to
long-term responsible investments in Africa, founded in partnership
between Luc Rigouzzo, Laurent Demey, and the Edmond de Rothschild Group
through Compagnie Benjamin de Rothschild Conseil “CBR”, successfully
reached its final close in June 2014, mobilizing USD 530 million.
Amethis has been able to attract an unprecedented number of private
investors for an African fund, being financial institutions but also
European and US family offices.
A unique community of long-term entrepreneurs and private investors for Africa
Amethis realizes one of the biggest fundraising ever for a first-time
investment fund dedicated to Africa showing increasing interest of US
and European investors for the continent. Amethis’ unique shareholding
structure is composed of 55 investors of which only 3 are state owned
while most of the investment funds dedicated to Africa have been
financed by development finance institutions (DFI) so far. Amethis has
managed to bring to Africa European, US and African institutions,
together with close to 40 European and US entrepreneurs and family
offices.
The capacity to build a bridge between European and US private investors and successful African Entrepreneurs
Amethis has a unique shareholding structure: mixing classical
institutional investors (banks, insurance companies, fund of fund…) with
successful private entrepreneurs from the manufacturing and services
sectors who are investing often for the first time in Africa and are
looking to know better the continent. Amethis considers its investors as
potential shareholders and business partners for the companies it
invests in. Amethis assists its investors in their expansion, notably
through co-investments. Indeed, Amethis aims to capitalize on its
network to identify and to harness strategies between its diversified
investor pool and its local partners.
A business model suited for the continent’s needs and differentiated
from same-sized traditional funds investing in the continent
Africa is going through a rapid and dramatic change, thanks to its
demographics and fast urbanization. Economic models are rapidly
changing, with consumer and retail oriented companies taking advantage
of those evolutions. This rapid growth is creating significant capital
needs for local companies, and Amethis’ strategy is to foster long-term
ties with well-established, high-growth African businesses which need
long-term capital, and supporting them through a new phase of their life
cycle. Amethis is helping them to develop, first in their own national
space, then in their regional space
To do so, Amethis has developed an investment strategy adapted to the African needs and specificities:
- Amethis is particularly positioned on Africa’s bottlenecks areas
supporting urbanization and consumer growth: financial services, retail,
agri-business, energy…
- Amethis is focused on countries with a large domestic market and a diversified economy (i.e. countries in transition).
- Amethis is one of the only player to provide its clients with
traditional equity and flexible long-term debt, a mix adapted to its
clients’ needs.
- Amethis only takes minority stakes, which is well suited for family-owned businesses.
- Finally, Amethis is characterized by its long-term horizon.
A quick start with already five investments completed so far
A year and a half after its first closing, Amethis has already made 5
investments, in fast perfoming companies in Kenya, Ghana, Cote d’Ivoire
and Mauritius, in banking, oil and gas retail distribution and
logistics. Amethis is supporting the rapid changes in the African retail
banking industry, pushed by innovative local banks creating new
marketing and distribution models. It has already partnered with the two
fastest growing banks in Kenya and Ghana, respectively Chase Bank and
Fidelity Bank, who are transforming their respective banking industries.
It is supporting in Côte d’Ivoire the quick rise in gas consumption,
investing in the local champion, Pétroivoire. In the Indian Ocean, it
backs the rise of Mauritius as the regional logistics hub through the
regional leader, Velogic.
A fruitful partnership with Compagnie Benjamin de Rothschild Conseil
The fruitful alliance with CBR is grounded on the proven know-how of
Amethis Finance founders in sustainable development in Africa and the
credibility of the Edmond the Rothschild Group. Amethis founders are a
team of bankers and Private Equity investors, specialized in Africa and
the Mediterranean, who have devoted their careers to private equity and
long-term lending on the African continent. They share the same
long-term investment vision as the Rothschild family which have granted
to CBR a mission to promote innovative investment schemes in
partnerships with highly recognized investment professionals. Over the
last ten years CBR has developed a recognized environmental and social
expertise, notably with its investment funds platform, covering
traditional strategies and focusing on Impact Finance, Environment and
Infrastructure, in developed markets and frontier markets.
Luc Rigouzzo, Managing Partner at Amethis comments: “The success of
this fundraising, demonstrates the appetite of private European and US
entrepreneurs and family offices to invest in Africa, the next world
frontier for growth, and their conviction that our patient and
responsible business model is well adapted to the needs of the
continent.”
Laurent Demey, Managing Partner at Amethis, adds “African entrepreneurs
are shaping Africa’s future at a key moment in the continent history.
Amethis role and objective is to support them in all possible ways:
money, of course, but also value addition, international network and
recognition through our very specific business model and shareholder
base.”
Johnny El Hachem, Chief Executive Officer of Compagnie Benjamin de
Rothschild Conseil adds: “We were convinced that Amethis was the right
team for this partnership, with whom we share the same vision of
long-term responsible investment in Africa. It is at the core of the
Edmond de Rothschild Group to partner with talented professionals on
ambitious and innovative projects.
_ _ _
For further information, please contact:
❖ Amethis Finance
Luc Rigouzzo (luc.rigouzzo@amethisfinance.com)
Laurent Demey (Laurent.demey@amethisfinance.com)
❖ Compagnie Benjamin de Rothschild Conseil (Edmond de Rothschild Group)
Johnny El Hachem (jelhachem@ctbr.ch)
About Amethis Finance
Amethis Finance is a financial institution dedicated to Sub-Saharan
Africa, initiated in December 2012 by Luc Rigouzzo and Laurent Demey,
respectively former CEO an Deputy CEO of Proparco, subsidiary of the
French Development Agency, in partnership with the Compagnie Benjamin de
Rothschild.
Amethis Finance is a “one stop shop” which provides all long-term
financial instruments (long-term debt, equity and quasi equity
investment), with high standards and objectives in terms of development,
social and governance criteria.
Amethis positions itself as a long term investors with the aim of
supporting private companies in the consolidation of their competitive
positioning, domestic and regional expansion as well as implementation
of long term strategic plan. After an intermediary close at 185MUSD,
Amethis has closed its fund raising at 530MUSD.
About the Edmond de Rothschild Group
Founded in 1953 by Baron Edmond de Rothschild and presided over since
1997 by Baron Benjamin de Rothschild, the Edmond de Rothschild Group
specialises in Asset Management and Private Banking. At 31 December 2013
the Group had €133.6 billion of assets under management and nearly 2800
employees spread across 31 offices, branches and subsidiaries
throughout the world. In addition to its core businesses of Asset
Management and Private Banking, the Group is also active in Corporate
Finance, Private Equity and Fund Administration.
Compagnie Benjamin de Rothschild Conseil is a subsidiary dedicated to
innovative project funds and sustainable finance through private equity...."
