Catalyst Partners raises USD 69mn for investments in eastern Africa.

By bne IntelliNews February 18, 2011
Private equity firm Catalyst Principal Partners has raised KES 5.6bn (USD 69mn) for investment in various sectors throughout the countries of eastern Africa, the Business Daily Africa reported. The amount is part of closing the Catalyst Fund I, a USD 100mn private equity fund established by Catalyst Principal Partners that will invest in dynamic mid-sized companies. From the newly raised funds, the buyout firm has already invested up to KES 1.2bn in Tanzanian consumer goods producer Chemi & Cortex Industries Ltd, the funds CEO, Paul Kavuma, was quoted as saying. The fund looks at the 20% to 25% annualized return for its 4-6 year investment horizon, the newspaper said.

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