SGAM Alternative Investments (SGAM AI) has announced the first closing at EURO 100 million of SGAM AI Kantara, a private equity fund targeting investments in expansion capital and buy-out transactions in Morocco, Algeria, Tunisia and Egypt. This fund will focus on established companies which are set to benefit from the development of the region.
The European Investment Bank (EIB) and Socit Gnrale are major investors in this fund, alongside informed institutional investors from Europe, the Gulf and Morocco.
“With the development of a private equity business in North Africa, we wish to allow investors to benefit from the synergies with Socit Gnrale Group’s existing activities in retail and corporate banking and financial services,” says Philippe Brosse, the CEO of SGAM AI. “The successful first closing of the SGAM AI Kantara Fund is another major step in the development of SGAM AI Private Equity in emerging markets, which is one of its major areas of development for the future.”
“The Socit Gnrale Marocaine de Banques is very proud to have actively contributed to the success of SGAM AI Kantara, which not only proves the degree of attractiveness of the region and particularly Morocco, but also the growth potential of North African SMEs,” adds Jrme Guiraud, the CEO of Socit Gnrale Marocaine de Banques. “SGAM AI Kantara constitutes a new instrument of support to these SMEs at a time when they are turning more and more towards new markets, both domestic and international”.