Enko Capital raises $100m for flagship private credit fund
Africa-focused alternative asset manager Enko Capital has announced the first close of its impact-focused private credit strategy with $100m (£74.5m) commitments. It has a target of $150m at final close, with a hard cap of $200m.
Enko, which has $1.3bn in assets under management, launched the fund to provide USD-denominated private credit to mid-market companies across Sub-Saharan Africa, focusing on established, cash-generating businesses in non-cyclical sectors such as agriculture and renewable energy.
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Investors in the first close of the fund include British International Investment, IFC, SICOM Global Fund Limited and African pension funds and family offices.
The fund seeks to address the structural credit gap facing mid-sized African firms and to demonstrate the commercial potential of private credit on the continent.
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“The successful first close of Enko’s flagship private credit strategy underscores growing investor confidence in Africa’s sustainable development through private credit,” said Alain Nkontchou, managing partner of Enko Capital.
“With the support of leading international institutional development and impact investors and local partners, the fund is strategically positioned to offer customised capital solutions to high-quality mid-market SMEs, unlocking growth, supporting job creation, and advancing sustainable development, while generating compelling risk-adjusted returns for our investors.”
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