Key Takeaways
- • Ninety One has announced the final close of its Africa Credit Opportunities Fund 3 (ACO3 Fund) with $404 million in commitments, including leverage.
- • Commitments came from institutional investors including development finance institutions, pension funds, and family offices across Africa, Europe, the UK, the US and Canada.
- • The fund invests mainly in senior secured private credit, providing flexible financing to businesses and critical infrastructure projects in Africa and other emerging markets.
- • ACO3 has built a portfolio of over 30 investments across Africa, Latin America, Asia and Central and Eastern Europe, and has already realised several exits.
- • The fund is led by managing directors Steven Loubser and Kobina Sam.
Summary
Ninety One has announced the final close of its Africa Credit Opportunities Fund 3 (ACO3 Fund), according to Africa Private Equity News. The fund closed with $404 million in commitments, including leverage, from a mix of institutional investors. Participants include development finance institutions, pension funds and family offices based across Africa, Europe, the UK, the US and Canada.
The ACO3 Fund focuses primarily on senior secured private credit. It provides flexible financing to businesses and critical infrastructure projects across Africa and other emerging markets. The fund has already built a diversified portfolio of more than 30 investments spanning Africa, Latin America, Asia and Central and Eastern Europe. Exposure covers communications, consumer, financials, healthcare, industrials and materials sectors. Several exits have been realised to date.
Nathaniel Micklem, co-head of emerging market alternative credit at Ninety One, said the close reflects investors' continued confidence in opportunities across Africa and emerging markets private credit. He noted a significant financing gap for high-quality businesses and infrastructure projects in these regions, which he said creates attractive openings for experienced lenders with deep local origination capabilities. Micklem cited the firm's long-standing presence, local expertise and partnerships as positioning it to identify resilient investments that can deliver compelling risk-adjusted returns.
The fund is led by managing directors Steven Loubser and Kobina Sam.
The ACO3 Fund focuses primarily on senior secured private credit. It provides flexible financing to businesses and critical infrastructure projects across Africa and other emerging markets. The fund has already built a diversified portfolio of more than 30 investments spanning Africa, Latin America, Asia and Central and Eastern Europe. Exposure covers communications, consumer, financials, healthcare, industrials and materials sectors. Several exits have been realised to date.
Nathaniel Micklem, co-head of emerging market alternative credit at Ninety One, said the close reflects investors' continued confidence in opportunities across Africa and emerging markets private credit. He noted a significant financing gap for high-quality businesses and infrastructure projects in these regions, which he said creates attractive openings for experienced lenders with deep local origination capabilities. Micklem cited the firm's long-standing presence, local expertise and partnerships as positioning it to identify resilient investments that can deliver compelling risk-adjusted returns.
The fund is led by managing directors Steven Loubser and Kobina Sam.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.