Coors-Led Fund Joins Carlyle in African Private Equity Deals
John Coors, the great grandson of the founder of Coors Brewing Co., plans to raise $300 million from wealthy families in the U.S. and Africa for a private equity fund to invest in Africa.
The One Thousand & One Voices fund will have $50 million to $100 million by the end of the year to invest in the fastest-growing African nations, including Kenya, Ghana, Tanzania and Nigeria, Coors said in a phone interview on May 3. The fund will seek minority stakes of $10 million to $40 million and target companies with earnings before interest, taxes, depreciation and amortization of $2 million to $15 million.
BACK TO ALL ARTICLES