BluePeak Private Capital – an alternative investment firm with a strong focus on Africa, announced today that it has raised capital of more than US$100 million for the initial closing of its flagship private credit and mezzanine fund, BluePeak Private Capital Fund SCSp (the Fund). The Fund targets a final close of US$200 million, with a hard cap of US$250 million.
The Fund’s initial closing is backed by leading African investors including CDC Group, the UK’s development finance institution and impact investor; the European Investment Bank, the European Union’s bank, DFC, the US Development Finance Corporation, FMO, the Dutch entrepreneurial development bank and the “Caisse des Dépôts et Consignations” CDC Tunisia.
Small and mid-market firms and private equity sponsors operating in Africa with revenue of $10 million to $80 million, non-cyclical growth sectors, competent management teams, and a solid track record of financial success would benefit from the Fund’s tailored financing options. BluePeak will proactively seek areas where good impacts may be made, in addition to a strong focus on ESG in every investment.
Adam Hadidi, co-founder and Managing Director of BluePeak Private Capital said “SMEs in Africa are still facing financing challenges despite their critical role in the growth and stability of African economies.
The Covid-19 crisis made the needs more substantial and the opportunity to support great businesses undeniable. Asset-light companies which operate in attractive sectors still find it difficult to obtain financing from the traditional credit markets, even when they have a good track record of financial performance and numerous opportunities for growth. BluePeak was founded to fill this market gap and provide growth capital through a variety of bespoke debt instruments, including mezzanine finance, preferred equity, convertibles and senior debt for companies operating in Africa and the Levant region.”
Throughout the Fund’s 10-year term, it is projected to make investments ranging from $10 million to $25 million.